Maelstrom Launches Bitcoin Grant Program To Support Developers With Up To $150,000
In Brief
Maelstrom launched Bitcoin Grant Program to expedite technical advancement of Bitcoin, improving its resilience, scalability, and more.
Investment fund managed by the family office of Arthur Hayes, co-founder of the cryptocurrency derivatives trading platform BitMEX, Maelstrom, announced the launch of the Bitcoin Grant Program. This initiative aims to expedite technical advancement of Bitcoin, improving its resilience, scalability, censorship resistance, as well as privacy features.
The developer grants are issued for a one-year duration, with payments disbursed monthly in BTC, USDC, or USDT. Funding amounts can range from $50,000 to $150,000 per developer. Awards will be distributed during the third or fourth quarters of 2024. Additionally, grant staking is allowed, with a yearly cap set at $250,000.
Applications are currently being accepted and will continue to be accepted until August 25th. Among the requirements, Maelstrom highlighted that each submitted application must include at least one reference.
The fund anticipates that chosen grantees will play a role in the technical advancement of Bitcoin, which could involve making pull requests or conducting reviews for the Bitcoin Core software project. Each candidate will undergo at least one interview with a member of the review committee, comprising Arthur Hayes, a CIO, and Jonathan Bier–Grant Program Administrator, before a grant is awarded.
Maelstrom Views Bitcoin Developers As Key Drivers Of Technology’s Progress
It aims to construct a long-term portfolio of infrastructure firms that are set to underpin the future of trustless decentralization, as it is stated on the company’s website. It focuses on venture-stage investments and adds unique value to cap tables through its extensive expertise, relationships, as well as resources gained from establishing one of the industry’s earliest profitable unicorns from inception.
The company emphasizes its reliance on the efforts of open-source Bitcoin developers as the main driver behind its support for Bitcoin technology, upon which the cryptocurrency ecosystem depends.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
