Kadena Launches $100M Grant Program

Kadena Eco, the company behind the development of the Kadena blockchain platform, has announced the launch of a $100 million grant program to support projects in the network ecosystem.

We’re thrilled to announce a $100M grant program to inspire builders to innovate on the @Kadena_io network!

If you’re a builder or developer looking to build on #Web3, #KadenaEco is ready to empower YOU to create new projects that transform the world!https://t.co/3EL3UKkzog pic.twitter.com/8CjFmv2E7I

— Kadena (@kadena_io) April 21, 2022

“All high-quality open source projects in the fields of games, metaverse, NFT, Web 3.0, DeFi and DAO are welcome,” the statement said.

The company will evaluate applicants according to four main criteria:

• technical capabilities;
• specification details;
• team experience;
• usefulness of the project for the ecosystem.

In addition to financial support, Kadena Eco will provide developers with expert technological assistance.

The team also reminded that additional resources are available to projects on the Kadena blockchain, including:

• accelerator (formerly funding and mentoring);
• incubator (assistance in practical development);
• venture fund (raising capital in the later stages).

Kadena mainnet launch took place in November 2019. Blockchain uses a consensus algorithm proof of work. According to the developers, they managed to solve its basic problems with scalability while maintaining decentralization.

In January 2020, the team implemented an opportunity on the platform smart contract interactions between private and public networks.

Recall that in March 2022, Ripple expanded the grant program for developers of the XRP Ledger ecosystem. The company has allocated 1 billion XRP (~$757 million) to the initiative launched in 2021.