Polygon Establishes $720 Million Community Treasury to Fuel Blockchain Innovations

IconCryptoNewsTerminal Staff11 Jun, 2024

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Polygon Establishes $720 Million Community Treasury to Fuel Blockchain Innovations

Polygon (MATIC), a leading Ethereum scaling platform, has unveiled a substantial $720 million community treasury dedicated to nurturing blockchain projects for the next decade. This initiative aims to empower a vibrant ecosystem of decentralized applications (dApps), developers, and protocol infrastructure. In the initial phase, Polygon will allocate approximately $25 million to its Community Grants Program. This program will provide financial support to promising blockchain projects, thereby fostering innovation and growth within the Polygon ecosystem. Furthermore, the treasury will contribute an additional $100 million worth of POL tokens annually to sustain these projects. By establishing this community treasury, Polygon demonstrates its commitment to fostering a thriving blockchain ecosystem. This initiative will undoubtedly accelerate the development of innovative dApps, tools, and protocols on the Polygon network, solidifying its position as a key player in the blockchain industry.

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