Blockchain Grants & Crypto Funding: Launch your next Web 3.0 project on these Blockchains

Looking to start your next DeFi project with our team of developers at DCVX? We can help you with a variety of services and a portfolio that is tailored towards success. On one hand, most companies and users have initial funding or create prior crowdfunding initiatives to generate income that is then turned into a DeFi product. On the other hand, smaller start-ups have limited resources and require more help from external investors. This is where blockchain grants and crypto funding come into place. They are the last missing puzzle of any crypto-related project and can vastly help anyone who wants to launch the next web 3.0 platform on a variety of blockchains.

However, before we proceed, if you want to learn more about decentralized finance, DeFi 2.0 or, more about web3 development, then please visit our Blog where we have previously tackled these topics. Also, if you wish to start your DeFi project or to receive blockchain consulting, then definitely contact our team of elite developers.

So, let's deep dive into what is a blockchain grant and how to get crypto funding with the following paragraphs below.

What is a Blockchain Grant?

A blockchain grant is partial or full financial support in the form of a grant, bursary or any type of funding offered to an organization. Grants are used by eligible companies or entities that wish to solve a problem or pioneer a platform which can change how different aspects in any given blockchain work. The blockchain grants provide funding to demonstrate the potential of blockchains to reduce any regulatory or business burdens. Typically, blockchain funding is offered in outstanding amounts of funds that are necessary for development and development team assembly. In most cases, start-up companies are the natural recipients of such grants due to their nature being small and self-sustained as opposed to large organizations or corporations. Blockchain grants are offered by multiple organizations and blockchain networks as we will showcase in the following paragraphs.

In addition, we have already reviewed PSWAP (PolkaSwap) in one of our previous articles which is a platform that is a blockchain grant recipient. To learn more, feel free to check out the article here. In short, Polkaswap ($PSWAP) is a non-custodial cross-chain AMM-DEX protocol for swapping tokens based on the Polkadot (and Kusama) network(s)and is a recipient of the Web3 Foundation grants program.

How to get Web3 Funding

To qualify for a blockchain grant, a start-up company must always be compliant with several eligibility criteria like - being an actual entity or organization with a physical address, being part of a local company register, providing all types of KYC and company-related documentation and most of all having a business plan showcasing all aspects of the project during the application process. After that, all that is needed is to apply and to wait out for acceptance criteria to be met. Usually, different blockchain networks have different acceptance criteria as well as different amounts offered. However, anyone who wishes to try and apply for such financing can do so by visiting the relevant blockchain network websites and manually finding the web3 funding section, if that is available at all as some blockchains do not offer grants at this stage at all. Otherwise, keep reading to find out some of the currently open blockchain grants available to start-ups and web 3.0 entities alike.

Chainlink Grants

The Chainlink Grants offer support for the community development of Chainlink. The Chainlink community grant program funds the creation of new smart contract applications that secure greater value across more markets. The Chainlink grant program deploys substantial resources toward the creation of critical developer tooling, the addition of high-quality data, and the launching of key services around the Chainlink Network. Moreover, Community grants seek to empower more and more Chainlink ecosystem teams who are building key tools and infrastructure that accelerate the development of universally connected smart contracts and secure oracle node infrastructure. Another type of grant is the Integration grant that encourages projects and teams from all over the world to procure specific technological work and services from Chainlink. Chainlink offers a Bug bounties grant to support developers and security engineers who examine Chainlink’s core code and harden it against potential attack vectors now and in the future. Lastly, there are the Chainlink Research grants that fund researchers and academics who conduct and publish innovative research that advances the development of the Chainlink Network.

To find out more, please follow this link: https://chain.link/community/grants

ConsenSys Grants

ConsenSys offer blockchain funding & Ethereum grants. ConsenSys Grants fund blockchain technology projects that meet the needs of a rapidly-accelerating Ethereum ecosystem. Some key areas include: core infrastructure, social impact, improved developer tooling and UX, security, and access to education. They are equally focused on funding core components and technology that will enable a far-reaching community that is building projects in the blockchain space. ConsenSys strive to understand the core needs of the ecosystem and look for great projects who respond to those fundamental needs by enabling others to build on their developments. Also, ConsenSys Grants will support projects by connecting both the community of grantees and the Grants Advisory Committee, as well as providing access to the ConsenSys mesh of products and initiatives. In addition, ConsenSys will help highlight grantee projects through ConsenSys Media.

Unfortunately, ConsenSys does not have any open grants programs at the moment but do make sure to follow up for any updates on their website.

Kraken Grants

One of the biggest DEXs (Kraken) also offers grants. Kraken understands that their work wouldn’t be possible without the countless hours spent on innovative ideas by passionate open-source contributors. As their website suggests:

"Bitcoin and other cryptocurrencies simply would not exist without these unsung heroes."

As a result, they have started an open-source grant program designed to highlight and elevate great work that’s crucial to helping cryptocurrencies and web3 development companies alike to reach their potential. Kraken has already distributed grants of $150,000 and there is more room to explore their funding for future recipients. Grants can include projects that are based on Bitcoin, Ethereum, Monero and much more.

To find out more, please follow this link: https://www.kraken.com/features/grants

Web3 Foundation Grants

Next up, we have the Web3 Foundation Grants. As mentioned above, PSWAP is a recipient of such a grant. Web3 Foundation funds development work driving advancement and adoption of decentralized software protocols. They support projects that make it easier for developers to build useful applications using these protocols. Currently, more than 300 projects have been funded by Web3 Foundation grants. Also, Web3 Foundation funds research projects that advance and explore protocols in the Web 3.0 Technology Stack. They are mostly interested in the following areas: benchmarking, new primitives (technical/economical), analysis of existing protocols and implementations, and security testing. Lastly, Web3 Foundation awards grants for specific projects and pieces of development work. Grant recipients should not be considered partners of Polkadot or Web3 Foundation.

To find out more, please follow this link: https://web3.foundation/grants/

Terra Grants

Terra blockchain grants program will be relaunched in 2022 and will be open for new applicants and future recipients. As their website suggests, The Terra grant serves as a public-facing record of activities within the Terraform Labs grants program. They will expand this public-facing site with relevant updates regarding the Terra grants program. There is not much information on what will the grant offer at this stage in time, but their website will likely provide updates in the upcoming quarters, so definitely follow it at: https://terragrants.org/

Not sure what Terra is? Check out one of our previous articles about blockchain protocols that scale to learn more about Terra.
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Algorand Grants

Algorand Foundation is granting 250 Algo to potential projects. Their multi-year Grants Program offers various funding level opportunities across 4 grant categories: research proposals, development tools & infrastructure, application & use cases, education & community

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Gitcoin Grants

Gitcoin Grants has been a major supporter of Web 3 projects for many years. Projects that received grants from Gitcoin are Uniswap, POAP, Bankless, Dark Forest and many more. Gitcoin Grants is having it's 13th cohort and it is starting on March 9th 2022.

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Near Protocol Grant

The NEAR ecosystem has announced $800 million in funding initiatives targeted at accelerating growth. Huge part of those funds will go into funding Decentralized Finance(DeFi) projects that would be critical for the growth of the Near Protocol Ecosystem.

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UNICEF Grants

The penultimate grant of this article is UNICEF's CryptoFund which is not currently accepting applications. The CryptoFund provides up to USD 100K US dollars equity-free funding, in Bitcoin or Ethereum, to open source frontier tech solutions showing promising results. In addition to receiving crypto assets, projects receive mentorship on various topics to develop their solutions. The applications go through the selection process defined by the Innovation Fund (IF). The IF team engages various internal stakeholders to determine which startups can benefit the most from using cryptocurrency. The selected startups receive funding up to USD 100 000 in cryptocurrency.

Currently, UNICEF does not offer this type of grant, however, there could be possible openings in the future, so keep an eye on their website.

Solana Grants

Lastly, we will be looking at the Solana grants from the Solana Foundation. Anyone can apply for a grant from the Solana Foundation. At present, the Foundation is focused on funding projects that promote decentralization and censorship resistance on the Solana network. A full list of grant proposals can be found here. Users are also encouraged to apply if they have ideas that don't address a proposal directly, but that still fall under the Foundation's broader scope. If a project does not address decentralization or censorship resistance, then it is recommended to check out the Alternative Funding Sources.

Solana grants are currently open for any start-ups looking for additional funding. To find out more, please follow this link: https://solana.foundation/grants

Summary

We have reviewed what are blockchain grants and crypto funding. Start-ups and web3 development companies alike have the opportunity to apply for a fair share of different blockchain grants some of which offer scaling solutions, coaching and financial support. Others have currently stopped providing crypto funding, however, this is most likely to resume in the upcoming months of the year. As such, we highly recommend for anyone who is looking for blockchain grants and funding to waste no time and apply now. The eligible projects will ultimately be recipients of blockchain grants and as the saying goes:

"The early bird catches the worm."

So if you would like to learn more about DeFi and build your own DeFi project or receive blockchain consulting, then please feel free to contact our team of elite developers who can help you achieve great results and become the pioneer of our future. Also, if you would like to learn more about the services our company offers, then definitely check out the Services page.

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