Gitcoin Launches $4M Annual Grants Program for Ethereum Layer-2 Solution Metis

IconCryptoNewsTerminal Staff29 Aug, 2024

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Gitcoin Launches $4M Annual Grants Program for Ethereum Layer-2 Solution Metis

Gitcoin, a popular crypto crowdfunding platform, has announced a $4 million annual grants program to support the growth of the Metis (METIS) ecosystem, an Ethereum Layer-2 solution. The program aims to foster innovation and adoption of Metis, a layer-2 scaling solution designed to improve transaction speed and reduce costs on the Ethereum network. The first round of the grants program will distribute 3,000 METIS tokens, worth approximately $100,000, and is set to begin on August 29th. Developers, builders, and projects focused on building on Metis are encouraged to apply for the grants. Gitcoin has emerged as a prominent platform for funding open-source software and projects in the crypto space. The launch of the Metis grants program demonstrates the growing interest in Layer-2 solutions as the Ethereum network grapples with scalability challenges. This initiative is expected to foster the growth and adoption of Metis, contributing to the expansion of the Ethereum ecosystem.

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