BitMEX co-founder Arthur Hayes has lately made a monumental announcement for his early-stage funding fund, Maelstrom. Today, July 17, Hayes took to a put up on X, unveiling the agency’s first Bitcoin developer grant program. This growth has echoed a bustle throughout the broader trade, staging as an effort to additional improve the crypto ecosystem.
Here’s an summary of this system aimed toward jacking up BTC builders, which seems to have promptly gained traction out there.
Arthur Hayes Unveils BTC Developer Program
In his put up on X right this moment, the BitMEX co-founder primarily spotlighted the ‘Maelstrom Bitcoin Developer Program.’ This program is aimed toward supporting the technical growth of Bitcoin and enhancing its resilience, scalability, censorship resistance, and privateness traits.
Maelstrom’s official website said, “We have the capacity to support Bitcoin developers and are committed to an open and transparent grant process.” Concerning this, the fund welcomed functions from devs, underlining August 25 because the deadline for ultimate submissions.
Simultaneously, the fund revealed further key info on the grant program. This included:
- Grants can be issued for 12 months, and funds are made month-to-month within the type of BTC, USDC, and USDT solely.
- The grant will provide a spread from $50,000 to $150,000 per developer.
- Notably, grants, when authorized, are anticipated to be awarded in Q3 and This autumn 2024.
Devs searching for extra info can head to the Maelstrom official site.
Also Read: BitMEX’s Arthur Hayes Highlights Bitcoin’s Edge To Gold, What’s The Catch?
More about Maelstrom
The platform refers to itself as a agency that the household workplace of BitMEX co-founder Arthur Hayes manages. It boasts the imaginative and prescient of “building a long-term portfolio of infrastructure companies that will serve as the foundation of the next wave of trustless decentralization.”
The funding fund normally targets small-cap venture-stage investments, starting from $100K to $250K (fairness + tokens).
Meanwhile, the abovementioned announcement is predicted to additional revolutionize the creation of dApps, good contracts, and blockchain protocols that use Bitcoin. Arthur Hayes revealed that the agency eyes providing help to the BTC ecosystem devs as ‘Bitcoin is the bedrock asset in the crypto space,’ which means an important element of the crypto ecosystem.
Also, it’s price mentioning that this announcement comes amid BTC exhibiting indicators of phenomenal restoration after a bearish motion in current rays. BTC price rested at $65,183 right this moment, up 3.49% over the previous day.
Also Read: BitMEX’s Arthur Hayes To Buy These Cryptos In May
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