Polygon, the Ethereum layer-2 blockchain, has unveiled a Community Treasury initiative funded with 1 billion POL tokens, which will be distributed over the next decade to drive developer engagement on the network.
According to the June 11 press release, the tokens will be sourced from 1% of the network’s annual token emissions, as detailed in the POL whitepaper.
Polygon grant
Polygon has launched the first season of its Community Grant Program (CGP), offering developers an initial 35 million MATIC valued at around $22 million. Future seasons will provide up to 100 million POL tokens as the network transitions from MATIC to POL.
Polygon’s CGP aims to support early-stage builders with essential funding. Polygon stated:
“Building is hard. The goal of CGP is to support developers while they build. Waiting until a project has finished building and produces results misses a key piece of true innovation: the opportunity to take chances.”
Developers can apply for grants from June 11 to
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