Polygon Community Treasury Board secures $660 million in community grants

adminJune 11, 2024

Key Takeaways

Following community agreement, a community treasury was created, with 1B POL unlocked over 10 years and up to 100 million POL per year.
Season 01 of the Community Grants Program, overseen by a neutral Community Finance Committee, 35 million MATIC distributed Building a project based on Polygon.
- Why Use MATIC for Season 01? The Community Grants Program uses funds from the Community Treasury to make grants. The community treasury accumulates POL, but the subsidy for Season 1 will be in MATIC as tokens are continuously upgraded from MATIC to POL.
Our community-aligned open funding framework will leverage expert grant allocators to distribute a portion of Season 01 funds.

Polygon announced the launch of its Community Grants Program (CGP) to power innovation and foster a thriving developer ecosystem. The program represents a pivotal development from the initial village grants and extends its scope to a newly established community treasury earmarked to support builders with significant funding.

CGP plans to spend approximately 35 million MATIC tokens in its inaugural season, and will allocate approximately 100 million POL tokens annually, for a total of 1 billion tokens over the next 10 years. This amounts to approximately $660 million at current Polygon prices. This significant investment highlights Polygon’s commitment to fostering a community-centric and developer-centric environment.

Administered by independent Community Finance Committees, the grant program adheres to a funding framework that is transparent and tailored to the community. A notable portion of Season 01 grants will be distributed by professional grant allocators to ensure a fair and effective allocation process.

Grant eligibility is reserved for projects currently building on Polygon or willing to migrate to the platform. The focus is on long-term commitments that align with Polygon’s vision to promote sustainable development within the blockchain space.

Past beneficiaries of Polygon’s funding schemes, such as Quickswap and Jokerace, demonstrate the program’s potential to foster significant growth and innovation. Two tracks are available for the upcoming season. General Grant TrackOpen to a wide range of projects, Consumer Cryptocurrency TrackWe focus on consumer-focused blockchain applications, including gaming, decentralized social media, and NFT innovation.

Applications for Season 01 will open on June 11, 2024, with the deadline set for August 31, 2024. Reviews are conducted sequentially, so we recommend applying for your project early. Each month, the Community Finance Committee reviews and selects projects, and grant awards begin early the following month.

Important information: