Polygon (MATIC) did not receive the expected interest since mid-last year, and its price performance remained weak. Something needed to be done. The Polygon team took action on this matter. To support developers in its ecosystem, 35 million MATIC will be granted. Moreover, there is much more.
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Although the price is not much affected, an important step was taken to support developers for the long-term development of the Polygon network’s ecosystem. This step is crucial for us to see more interesting protocols on the network. Additionally, with the increased interest in the network, we are talking about a move that could trigger the token price to multiply in the medium and long term.
The latest move, announced under the name Community Grant Program Season 1, will distribute 35 million MATIC Coin to developers in the ecosystem. Developers can apply between June 11 and August 31.
Each project will receive a grant between 5-50 thousand MATIC. Additionally, the Community Treasury Board will meticulously review the applications. Grant payments will start on the first day of each month. There will be a response in approximately 4 weeks.
The Community Treasury, which will unlock 1 billion POL over 10 years and distribute approximately 100 million POL Coins to developers each year, has already been established. Today’s announcement was for season 1.
