Rootstock has launched a 2.5 million US dollar grant programme for developers of Bitcoin-based DeFi applications.
Rootstock, the Bitcoin based smart contract platform, has launched a new programme to boost the development of DeFi on Bitcoin. The goal is to identify and fund 100 projects with an average amount of 25,000 USD.
One way to apply for a grant is to take part in the Scaling Bitcoin hackathon that Rootstock is organising in cooperation with Hacker Earth. It is the fast track to the grant programme with the overarching motto Everyday DeFi.
“We are entering a new phase for crypto adoption,” explains Pei Chen, who is in charge of Rootstock’s grant programme. “We are moving from addressing the Early Adopters to the Early Majority in order to serve more regular users.”
There are three more specific categories for this hackathon:
Merge Bitcoin Networks
To merge Bitcoin Networks is to enable greater interoperability of different blockchain ecosystems built on or with Bitcoin. Rootstock encourages the development of innovative solutions that enable seamless transfers of digital assets and information with other ecosystems.
Create User-centric Utility
Effective user engagement requires thoughtful utilities and incentive design. This theme aims to fund projects that promote the adoption of Rootstock in innovative and meaningful ways, with a particular focus on real-world use cases and token economy.
Aggregate DeFi Liquidity
A sustainable DeFi ecosystem is well connected at many different levels with user centric blockchain networks. This theme aims to reward innovative solutions that introduce new functions and liquidity through strategic integrations of marketplaces, consumer dApps, and other platforms.
The first phase, the so-called Ideathon, runs until June 19th, 2023. The second phase, which is about the practical execution, will end on July 9th. If you are a developer and want to participate, you may register here.
If your project is less technical and does not fit into the hackathon, you may also apply directly for the grant programme.
By Aaron Koenig