Earlier today, Polygon’s community treasury unveiled a detailed plan today to speed up development on the blockchain. This strategy involves releasing 1 billion tokens over the next ten years.
The announcement also hinted that POL could eventually replace MATIC as Polygon’s main token. However, “Given the ongoing token upgrade from MATIC to POL, grants for Season 1 will be made in MATIC,” the Polygon treasury cited in the announcement.
“After community consensus, the Community Treasury has been created, with 1 billion POL unlocked over 10 years, with [approximately] 100 million POL per year, all for builders.”
Polygon
The Treasury has declared that aspiring developers can apply for “Season 1” of the program starting this Tuesday. During the first phase of this incentivized initiative, the treasury plans to allocate 35 million MATIC (approximately $22 million) to projects being developed on Polygon.
According to the treasury’s statement, the application deadline for “Season 1” is August 31, 2024, and grants will range from 5,000 to 50,000+ MATIC tokens.
Program’s Season 1 Categories
Applications will be divided into two categories: the General Grant Track and the Consumer Crypto Track.
The General Grant Track is open to a wide range of projects without significant limitations. “For anyone, anywhere, building whatever on Polygon—this is for you,” the announcement stated. Projects in this track will concentrate on key areas such as developer tools, protocol infrastructure, and decentralized applications (dApps).
On the other hand, the Consumer Crypto Track will focus on projects that promote consumer adoption of cryptocurrency. Key areas of focus include gaming, gamified commerce, decentralized social platforms, AI/blockchain integrations, NFT innovations, and more.
This categorization streamlines the application process and ensures that appropriate support is provided to each applicant.
