Nibiru Chain, a Proof-of-Stake (PoS) network, announced a $15 million developer fund on Thursday to boost ecosystem expansion. This new fund, named Nibiru Builder Grants, is an element of Nibiru’s developer program aimed at addressing various hurdles in the blockchain sector and improving the network’s functionalities.
Nibiru Allocates $5 Million to Asian Builders
Using Cosmos SDK, a versatile toolkit, developers can construct standalone protocols without ongoing costs. Notably, this platform boasts the support of industry leaders such as HashKey, Kraken Ventures, and Tribe Capital.
Nibiru intends to allocate around 2.5% of its own crypto, which is worth $15 million, as rewards for developers creating groundbreaking initiatives in our ecosystem. These developers will receive NIBI tokens as a share of this grant.
To promote diversity, Nibiru’s growth head, Brandon Suzuki, announced a $5 million investment for projects in the Asia Pacific area as part of a long-term plan to strengthen the developer community.
Those who are keen to apply for the grant should do so via the official website of the protocol. Successful applicants will be awarded grants ranging from $5,000 to $50,000 by NIBI.
Mentorship Opportunities
Along with monetary aid, the procedure promises mentoring from Nibiru’s venture capitalists – Tribe Capital, NGC Ventures, ArkStream, among others – to eligible projects as they expand their businesses.
Erick Pinos, an executive at Nibiru, explained that the grant program would provide additional assistance in collaboration with existing programs. This includes access to mentors, industry professionals, and skilled developers. Furthermore, this initiative enables Nibiru to boost the exposure of ecosystem projects through targeted marketing efforts.
The protocol might provide extra funds for lopers if the grant program is successful, as mentioned in the disclosure.
Nibiru to Host Hackathons for Developers
Nibiru intends to add new engaging features to boost its presence and draw in larger audiences, aiming to expand its community.
The network announced plans to frequently organize hackathons offering substantial rewards of up to $100,000. These events aim to cover diverse areas within the decentralized finance (DeFi) landscape, including tokenization of real-world assets (RWAs), Web3 gaming (GameFi), and SocialFi.
Upcoming hackathons are designed to foster innovation among developers and invite them to experiment with decentralized apps (dApps) and their unique features.
In addition, Nibiru introduces an innovative new system for rewarding developers as they receive a percentage of transaction fees when their smart contracts are used.
The network intends to delve into the realm of non-fungible tokens (NFTs), offering early access to upcoming decentralized applications (dApps) within Nibiru to token holders. In return, owners of these digital artworks will have the power to contribute to decision-making processes through a Decentralized Autonomous Organization (DAO).
In conclusion, Nibiru plans to implement a reward program to motivate developers who effectively complete tasks requested through RFPs in the upcoming process.
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2024-04-18 19:27