Arthur Hayes Maelstrom launches Bitcoin Grant program of up to 150k Dollar per Developer
Maelstrom, led by BitMEX co-founder Arthur Hayes, today launched its grant program to support Bitcoin developers.
Announcing the @MaelstromFund #Bitcoin Developer Grant Program. As loyal followers of Lord Satoshi, we are doing our part to spread the word. Please apply on our website, link below, if you would like to submit a proposal.https://t.co/3xOdyrjTzS
— Arthur Hayes (@CryptoHayes) July 17, 2024
In comparison to other cryptocurrency projects, Bitcoin (BTC) has never held an offering to raise money for its technical development, making BTC the bedrock asset in the crypto market. Maelstrom is indirectly dependent on firms in the same industry and the efforts of open-source Bitcoin developers, just like other companies in the same industry, according to a post on the company website.
As a result, we are eager to give back and contribute to the Bitcoin technology, which the cryptocurrency ecosystem depends on. The objective of the grant program is to support Bitcoin's technical development while enhancing its scalability, resilience, resistance to censorship, and privacy features, the post added.
Developers are invited to apply to the Bitcoin grant program, as the deadline for final submissions is August 25. Grants are expected to be awarded in Q3 or Q4 of 2024,
and over the course of a year, the grants, which can total up to $150,000 per applicant, will be awarded in monthly installments in BTC, USDC, or USDT.
According to the website, recipients are expected to support the technical development of Bitcoin by reviewing work for the Bitcoin Core software project or in the form of pull requests.
The venture capital run by Hayes’ family office allows for grant stacking with a cap of $250,000 per year, according to its website. The Maelstrom Grants Program may stimulate further innovation in the field of Bitcoin-native Decentralized Finance (DeFi), commonly referred to as BTCFi or Bitcoin DeFi.
Disclaimer: This information should not be considered financial advice by any means. Please do your own research before making any investment decisions. The views in the articles are personal opinions only. Whale Insider is not responsible for any financial losses incurred.