Popular blockchain protocol Polkadot recently announced the allocation of over $20 million in DOT to stimulate the development of its ecosystem and the highly anticipated Web3.
Polkadot Allocates $21M For Ecosystem Development
In a press release shared with CryptoPotato, Polkadot noted that the bounty proposal, dubbed the Polkadot Pioneers Prize, is a series of challenges that have been carefully created to push technical innovation on its network.
The first two challenges will be revealed later this year and will include research and development on zero-knowledge and the Polkadot infrastructure.
So far, the blockchain project has allocated about 993,286 DOT, its native cryptocurrency, worth over $21 million. The funds will be split between the first two challenge categories and subsequent ones.
Leveraging Polkadot’s On-Chain Treasury
Polkadot intends to fund its Pioneers Prize initiative using its on-chain treasury, managed by the network’s token holders through on-chain governanc
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