Kadena launches $100 million grants program

Kadena Eco, the company behind the development of the Kadena blockchain platform, announced the launch of a $100 million grant program to support projects in the network’s ecosystem.

We’re thrilled to announce a $100M grant program to inspire builders to innovate on the @Kadena_io network!

If you’re a builder or developer looking to build on #Web3, #KadenaEco is ready to empower YOU to create new projects that transform the world!https://t.co/3EL3UKkzog pic.twitter.com/8CjFmv2E7I

— Kadena (@kadena_io) April 21, 2022

“All high-quality open-source projects in the fields of games, the metaverse, NFT, Web 3.0, DeFi and DAOs are welcome,” the statement said.

The company will evaluate applicants based on four main criteria:

• technical capabilities;
• level of detail in specifications;
• team experience;
• usefulness of the project to the ecosystem.

In addition to financial support, Kadena Eco will provide developers with expert technical assistance.

The team also noted that Kadena blockchain projects have access to additional resources, including:

• Accelerator (formerly — funding and mentorship);
• Incubator (assistance in practical development);
• Venture fund (raising capital at later stages).

Kadena’s mainnet launched in November 2019. The blockchain uses the consensus algorithm Proof-of-Work. According to the developers, they managed to address its fundamental scalability issues while preserving decentralisation.

In January 2020, the team implemented on the platform the ability for smart contracts to interact between private and public networks.

In March 2022, Ripple expanded its grants program for developers of the XRP Ledger ecosystem. The company allocated 1 billion XRP (~$757 million) to the initiative launched in 2021.