Connect with us

The Graph News

The Graph Foundation completes Wave 6 of Grants, allocating nearly $1m

mm

Published

 on

Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.

The Graph Foundation completes Wave 6 of Grants, allocating nearly $1m

The Graph Foundation, an organization running the project called The Graph, recently published a blog post in which it disclosed that another $1 million has been allocated to various projects in the 6th wave of grants. The project also looked back at the last 7 months, highlighting some of the major milestones of 2022 so far.

The conclusion of Wave 6

The project started by noting that The Graph ecosystem has seen excellent growth, despite the drop in crypto prices that marked this year. The Foundation stated that over $9 million has been paid in grants already, with nearly $12 million allocated to date since the grants program launched back in 2021.

Over this period, the project also welcomed five new core developers, including its first subgraph developer, Messari, and GraphOps. The project noted that it is now maintaining and nurturing this momentum by onboarding the next cohort of grantees.

The so-called Wave 6 has seen the allocation of more than $800,000 toward various protocol improvements, providing support to multiple dApps, growing the community, creating new tools, and alike.

The announcement noted that this wave is important as it marks an end of an era for the project and a beginning of an entirely new chapter in decentralization. Anyone can apply for a grant from the AdvocatesDAO as long as their plans fulfill 2 requirements — they must be aligned with the DAO’s Charter, and they must follow the DAO’s goals of community growth.

Once the applications for the Wave 6 grant were ongoing, submissions came from all over the world, including the US, UK, Mexico, Poland, France, Japan, Portugal, Korea, Canada, and many other nations. They were reviewed by Graph Domain Experts, who are all community members, as well as by The Graph Council, core developer teams, and even by other builders.

After that, the winners were selected, and they were paid in GRT. The detailed descriptions for Wave 6 grants can be seen here. The short version is that $400,000 went to Protocol R&D, $52,000 was granted for the purpose of Tooling, $77,000 went for the projects creating dApps and Subgraphs, and lastly, $320,000 went to projects focused on Community Building.

Wave 7 is on its way

While this does mark an end of an era, as mentioned, a new chapter is starting, and the grants are not going to stop. In fact, Wave 7 is already ramping up, this time with a focus on subgraph and Indexer tooling, education, helping subgraphs migrate to a decentralized network, supporting community grants via the Graph AdvocatesDAO, and alike.

Applicants are encouraged to think about how their ideas can be used by the community or how they can improve the protocol in general. The project also noted that those who did not receive grants in the past should not be discouraged and that they should reapply. However, applicants should include as much detail as possible in order to make their ideas clear and transparent.

To learn more visit our Investing in The Graph guide.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.

Advertiser Disclosure: Securities.io is committed to rigorous editorial standards to provide our readers with accurate reviews and ratings. We may receive compensation when you click on links to products we reviewed.

ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.

Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.

Securities.io is not a registered broker, analyst, or investment advisor.