Polygon Community Treasury Board Unlocks $660M in Community Grants

Key Takeaways

After community consensus, the Community Treasury has been created, with 1B POL unlocked over 10 years, with ~100M POL per year.
Season 01 of the Community Grants Program, overseen by the neutral Community Treasury Board, will distribute 35 Million MATIC to projects building on Polygon.
- Why MATIC for Season 01? The Community Grants Program will use funds in the Community Treasury for grantmaking. The Community Treasury accrues POL, but given the ongoing token upgrade from MATIC to POL, grants for Season 1 will be made in MATIC.
An open, community-aligned funding framework will leverage professional Grant Allocators to distribute a portion of Season 01 funds.

Polygon has announced the launch of its Community Grants Program (CGP), aimed at bolstering innovation and fostering a thriving developer ecosystem. The program signifies a pivotal evolution from the initial Village Grants, expanding its scope with the newly established Community Treasury, earmarked to support builders with significant funding.

The CGP is set to disburse approximately 35 million MATIC tokens in its inaugural season, with an overarching commitment of about 100 million POL tokens annually, capping at a total of 1 billion tokens over the next decade. This comes to around $660 million at current price of Polygon. This substantial investment underscores Polygon’s dedication to nurturing a community-driven and developer-focused environment.

Administered by an independent Community Treasury Board, the grant program adheres to a transparent and community-aligned funding framework. A notable segment of the grants for Season 01 will be distributed by professional Grant Allocators, ensuring a fair and effective allocation process.

Eligibility for the grants is reserved for projects that are either currently building on Polygon or are willing to migrate to the platform. The focus is on long-term commitments, aligning with Polygon’s vision of fostering sustainable development within the blockchain space.

Past beneficiaries of Polygon’s funding initiatives, such as Quickswap and Jokerace, exemplify the program’s potential to catalyze significant growth and innovation. The upcoming season offers two distinct tracks: the General Grant Track, open to a broad range of projects, and the Consumer Crypto Track, which focuses on consumer-driven blockchain applications such as gaming, decentralized social media, and NFT innovations.

Applications for Season 01 are open from today June 11, 2024, with a closing date set for August 31, 2024. Projects are encouraged to apply early, as reviews are conducted on a rolling basis. Each month, the Community Treasury Board will review and select projects, with grant payouts commencing at the beginning of the following month.

Important information: