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Nibiru Chain Launches $15 Million Grant Program
Nibiru Chain, backed by HashKey, Kraken Ventures, and Tribe Capital, has announced the launch of a $15 million grant program to support developers focusing on the Asian market. The initiative, known as “Nibiru Builder Grants,” aims to enhance the capabilities of the blockchain platform.
Grant Details
- The grants, totaling over $15 million, will be distributed in the form of tokens (NIBI) representing approximately 2.5% of the total supply.
- Developers will receive long-term support through grants to drive innovation within the Nibiru ecosystem.
Developer Empowerment
Erick Pinos, Ecosystem Lead at Nibiru, expressed enthusiasm for supporting the developer community, stating that the initiative aims to empower builders to drive positive transformation in the Web3 space.
Pinos highlighted that the grants program will not only provide financial aid but also offer mentorship opportunities, access to industry experts, and collaboration with experienced developers.
Focus on the Asian Market
As part of the initiative, a dedicated $5 million allocation is set aside to support projects in Asia. Brandon Suzuki, Head of Growth at Nibiru, emphasized the importance of engaging Asian developers and communities in the platform’s growth efforts.
Suzuki mentioned that the grants program will include KPI-based milestones to align interests between the network and grant recipients, fostering accelerated development within the ecosystem.
Rewards and Incentives
In addition to the grant program, Nibiru will host regular hackathons with prize pools of up to $100,000 to encourage innovation in various dApp categories, such as DeFi, web3 gaming, and tokenization of real-world assets.
Furthermore, developers will have the opportunity to earn a share of transaction fees each time their smart contracts are executed. Nibiru is also introducing a bounty system for developers who fulfill protocol requests for proposals (RFPs).
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
