Conflux Network, a public, permissionless blockchain project in China, today announced the launch of its Conflux Ecosystem Grants Program. The 2.4 billion CFX (approximately $240 million) rolling grants program will fund entrepreneurs, engineers, and evangelists dedicated to advancing innovations in software development and research for the Conflux Network ecosystem.
Conflux Network is overseen by a global team of world-class academics and engineers including Dr. Andrew Yao, a recipient of the Turing Award, the highest honor in computer science. Three years ago, Dr. Yao set out to create an open-source, layer-1 blockchain protocol delivering heightened scalability, ironclad security, and practical, future-proofing extensibility. This was the origin of the highly anticipated Conflux Network, which has recently gone live with the second of its three-phase mainnet launch strategy. The tiered rollout allows for ample network debugging and stability testing during the early stages. Progressive phases allow participants to gradually build, transact, and contribute throughout the network’s developmental and foundational periods, ensuring that all the elements of a robust ecosystem exist by phase three.
The Ecosystem Grants program is designed to radically accelerate the creation and deployment of essential tools and services for the Conflux Network. The grants are geared toward startups creating strategic infrastructure that allows developers to build highly scalable products, including dApps that will drive users and liquidity to the Conflux Network. Funding will be granted to approved projects creating tooling, interoperability bridges, oracle infrastructure, decentralized applications, and other vital ecosystem components and will be deployed in waves on a rolling basis to developers from across the globe.
Projects that will be completed in up to two months can apply for Tier 1 funding and will receive up to $15,000 USD in CFX. Projects that will be completed in two to six months can apply for up to $50,000 USD in CFX tokens in Tier 2 funding. This will incentivize existing applications to natively support Conflux Network, providing projects with access to new powerful, decentralized infrastructure, while seeding the ecosystem with enhanced traffic and a broader user base.
“This grants program serves as our latest initiative to seek out the most innovative developers and projects as we continue to build out our vibrant ecosystem,” said Eden Dhaliwal, Global Managing Director at Conflux Network. “At Conflux, we aim to promote decentralized collaboration that advances blockchain technologies for real-world solutions, and encourage any like-minded, open-source projects to participate. Our team is excited to work with some of the most creative minds in the industry.”
Projects are eligible to apply for grants starting on July 21, 2020.