Kadena Established $100M Grant Project For Web3 Development

Kadena established $100 million grant project for web development and it is seeking developers to build on the PoW blockchain as we can see more today in our latest blockchain news today.

Kadena as founded by JPMorgan blockchain alumni Stuart Popejoy and Will Martino announced a $100 million grant program for developers to build projects on the blockchain. While Martino worked as a JP Morgan’s lead engineer for the open-source blockchain product Juno Popejoy who was an executive director of new products but left JPMorgan in 2016 to start the platform together. In a statement, Popejoy said that he wants more projects to build on the platform to transform the world:

“We’re doubling down on our promise to make that happen by actively and responsibly deploying our treasury resources to ensure long-term sustainability of our ecosystem.”

🥳 Grants are coming soon! $kda #kadena pic.twitter.com/3gx520njzs

— KadenaNews (@KadenaNews) April 19, 2022

The grant program that Kadena established is a part of KadenaECO which is a bigger development initiative that offers proejct acceleration, venture capital, grants, and incubation. Kadena offered developers up to $50,000 each for technical grants and the new program via KAdenaEco bigger development initiatives and the new grant via KadenaEco will offer financial and strategic support for early gaming, dEFI, NFT projects and virtually nothing in web3 is off limits as long as it is built on the Kadena PoS blockchain. With that said, the grant applications submitted via the KadenaEco website will have to prove technical know-how will be detailed and outline a qualified team and explain the project is useful and important for the ecosystem while mentors will oversee each proejct and the mentees will document their builds.

When it comes to blockchain grants, Kadena is joining the likes of Solana, Chainlink, Avalanche, Ethereum, and Polygon and will have a multi-million dollar grant program.

As recently reported, Kadena’s price surged 40% after the new protocol launch and listing on the Binance crypto exchange. The listing at Binance resulted in a 40% gain in the KDA price and in the bull and bear markets, the mantra for crypto projects is focused on long-term sustainability is always being built. Kadena is one of the projects that earned plenty of rewards for its approach to development despite the weakness on the market and the layer one proof of work blockchain whcih saw its price reverse direction as of late.