Kadena Announces a $100m Grant Program Meant to Inspire Innovation

Web 3.0, or Web3, is the newest and biggest obsession of the cryptocurrency industry, with countless projects either working on creating it, or developing features and functionalities for it. One of the most recent examples of this is Kadena — a PoW blockchain that combines Bitcoin’s own PoW consensus mechanism with DAG (Directed Acyclic Graph) principles to create a more scalable version of Bitcoin.

On April 21st, Kadena announced a $100 million-large grant program meant for the developers on its network. In other words, the project has set aside a massive sum with the goal of inspiring builders within its ecosystem to conceptualize and create some of the most innovative Web3 projects.

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

Kadena has a desire to raise awareness of its own network, attract talents from all over the blockchain world, and try to emerge as a leader in Web3 development. Its official offer says that anyone who is a builder or developer looking to build on Web3 should turn to Kadena, as the project is ready to empower them to create new projects that will transform the world.

Details about the grant

Kadena’s CEO, Francesco Melpignano, published a blog post on the project’s Medium on the same day when the Twitter announcement was made, explaining the grant, its vision, goals, and everything else related to it.

He noted that “blockchain is essential as we move into a world that is increasingly digital,” which is why Kadena wishes to inspire builders to come and innovate on its network. He added that Kadena Eco exists to empower builders to create new projects that would transform the world, which is why he and his team headed down the path that will lead to the growth of their community.

Who can join?

Melpignano further added that Kadena Eco grants will be given to any project, no matter how big or small they are, assuming that their application is accepted. Kadena seeks any kind of project, including gaming, metaverse, DeFi, DAO, Web3, NFTs, and all others, as long as they are open-source and of high quality.

The quality will be judged based on several parameters, such as technical strength, Detail of specifications, Team experience, and Usefulness to the Kadena ecosystem. In other words, while any project can get support from the network, not every project will, and the applicants will first have to prove that they have an actual plan, and that they know what they are doing.

Transparency is non-optional

Kadena is quite insistent on high levels of transparency, so all projects that hope to be accepted need to be open-source, and the applicants will be expected to contribute content, tutorials, product explanations, and alike, in relevant channels and communities on social media.

In return, Kadena Eco can offer engineering mentorship, community leadership, office hours, and of course, the grant itself, meaning monetary support for the projects’ development. The project’s CEO added that this is not all that Kadena has to offer, as they will also include an accelerator, an incubator, a venture fund, and research and development.

The first of many major announcements to come

Melpignano specifically noted that a lot more is coming, and that this announcement of the $100 million-large fund for grants is only one of many announcements that will arrive shortly. Kadena has dedicated its efforts to making the blockchain simple to use and accessible to everyone ever since it was created, and now, it seeks to bring together top industry minds, talents, and investors who would enable the best and brightest developments in promising blockchain sectors.

To learn more visit our Investing in Kadena guide.