Polygon Village Launches $90M Fund To Boost  Ecosystem

Polygon Labs announced the reopening of Polygon Village, which served as the home of Web3 creators, together with a new grant program of more than 110 million MATIC, currently worth around $91.3 million, to support projects expanding within the Polygon ecosystem.

Polygon Village is back, shinier, and better than ever.With a grant program of more than 110 million in MATIC, deep mentoring, and ecosystem support, Village is the home for web3 founders.Because it takes a village to build a unicorn.A quick tour 🧵 — Polygon (Labs) (@0xPolygonLabs) November 9, 2023

According to a blog post, Polygon Village 2.0 provides projects with an integrated support system that includes strategic guidance, mentorship, co-working spaces, and entrepreneurial networking opportunities, in addition to finance.

Polygon Village 2.0 is a continuation of the September release of plans for the Polygon 2.0 upgrade, which aims to create a POL token to replace the MATIC token in multiple capacities and develop a comprehensive network of interconnected Layer 2 chains backed by zero-knowledge proofs.

Three parts make up the initiative: “Village Build Ideas,” “Village Grants,” and “Village Startup Support.” The community grants program welcomes initiatives at any stage of development in the cryptocurrency space, including DeFi, SocialFi, gaming, and infrastructure.

Funding from the more than $90 million available comprises distinct quadratic funding awards for early-stage teams and direct grants from the Polygon Foundation up to 2 million MATIC ($1.7 million) for later-stage projects.

Apart from Village Grants, Village Build Ideas serves as a platform for individuals in search of project inspiration. It provides 1:1 mentorship and assistance to teams who choose from a list of preconceived ideas that have the potential to be completed projects.

Additionally, projects can apply for vouchers through Polygon Village Startup Support for services like smart contract audits, storage solutions, and web3 infrastructure like oracles and tooling. These vouchers also provide opportunities for projects to interact with VCs, marketing strategists, the Polygon Labs team, and a network of tech experts to help launch their projects.

In keeping with the idea of fostering a sense of community, Polygon Village also has Village Builder Houses, which are actual hubs for resource sharing and networking in Lisbon and New York.

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2023-11-09 19:16