Arbitrum Foundation launches grant program for ecosystem growth, XRP Ledger Foundation supports 15 projects with $1.6M in funding.
Key Points
- Arbitrum Foundation launches inaugural grant program for ecosystem growth, aligned with partners & education.
- Foundation Grants support Arbitrum DAO, target adoption & technical structures with milestone-based grants.
- Phases: initial focuses on decentralized apps & infra for Arbitrum Nova & One; ongoing with no end dates.
- XRP Ledger Foundation announces fifth cycle of XRPL Grants, backing 15 projects with $1.6M commitment.
The Arbitrum Foundation has taken a significant step towards fulfilling its mission of fostering ecosystem growth with the launch of its inaugural grant program. The Foundation’s grant program is designed to align with partner projects and educational initiatives, both online and in-person, as stated in the Foundation’s Bylaws.
Introducing Phase 1 of the Arbitrum Foundation Grants.🎉💙🧡
— Arbitrum (💙,🧡) (@arbitrum) July 19, 2023
Foundation Grants in Support of the Arbitrum DAO
The Foundation Grants program, run by the Arbitrum Foundation, is aimed at supporting the Arbitrum DAO. It is crucial to note that this program does not replace any DAO-driven grants program but rather complements it. The Foundation Grants seek to achieve specific objectives and address areas of opportunity identified by the Foundation, based on its mission statement.
The primary focus of the Foundation Grants program is ecosystem growth, as it allocates grants towards areas where increased development can potentially yield a greater return to the Arbitrum ecosystem. All grants issued through this program aim to improve adoption, create stronger technical structures, and build sustainable communities. The grants will be milestone and KPI based, established in collaboration with each applicant.
Phases of the Foundation Grant Program
The Foundation Grant Program is divided into distinct phases, each targeting applications from specific areas within the Arbitrum ecosystem. The initial phase gives emphasis to decentralized applications and infrastructure for Arbitrum Nova and Arbitrum One. Projects that do not meet the current criteria are encouraged to submit proposals to the ArbitrumDAO or revisit the page when new phases are announced.
Applications selected for a grant from the Foundation will have the opportunity to be showcased. The Foundation plans to include major activities of this program in the transparency report, as stated in AIP 1.1. The Foundation Grants Program operates as an ongoing initiative, with a rolling grant acceptance window. This allows projects to submit grant requests as needed. Phases do not have defined “end dates” but are expected to last for approximately three months or until the objectives for that phase have been achieved, as determined by the Arbitrum Foundation.
The Arbitrum Foundation is committed to supporting projects within the Arbitrum ecosystem through the Foundation Grants Program. By working together, they aim to foster growth, drive adoption, and build a thriving community, thus shaping the future of the Arbitrum ecosystem.
End Point
On July 18, 2023, the XRP Ledger Foundation also announced the recipients of its fifth cycle of XRPL Grants. With a commitment of over $1.6 million in total funding, the Foundation supports 15 innovative projects. This demonstrates the foundation’s ongoing dedication to fostering groundbreaking advancements within its ecosystem.
