- VeChain has announced the launch of the Grants 2.0 program, which is worth a maximum of $100,000 and a reiteration of the ecosystem’s commitment to sustainable blockchain development.
- Projects aligned with the network’s X-2-Earn vision for dApps will have an advantage in their application, with successful applicants getting the opportunity to work with BCG.
VeChain has launched Grant 2.0, an upgrade to its existing grant program for the ecosystem’s developers. The program has increased its maximum grant funding by over 300%, and the successful applicants get mentorship from a broader range of industry leaders, including the opportunity to work with BCG.
VeChain announced Grants 2.0 on Thursday, with CEO Sunny Lu describing it as the foundation’s commitment to one of the ecosystem’s most important groups—developers.
Successful applicants will not receive up to $100,000, up from the previous cap of $30,000.
We’re excited to announce the launch of our revamped #VeChain Grants 2.0 program!
Now worth up to a maximum of $100K, the updated program elevates our commitment to sustainable blockchain development, and introduces new funding tracks to meet diverse needs.
On top of that,… pic.twitter.com/2X7xpLTKz4
— vechain (@vechainofficial) January 24, 2024
Additionally, the applicants will receive marketing assistance to help push their products and services to the masses. According to the foundation, the changes were in response to some of the feedback it has received since the program debuted. The foundation further pledged its support to developers, whom it says are the spark towards “enterprise and individual migration toward sustainable working and living.”
In other changes, developers will now find it easier than ever to submit their proposals, with the foundation launching a customized website that speeds up the process. In addition to the overall grant, developers also receive microgrants for specific needs, such as tool integrations.
VeChain Pushes Sustainability Via X-2-Earn Under Grants 2.0
For VeChain, sustainability is at the core of any significant ecosystem development. The ecosystem has been pushing on several fronts and with renowned partners for a sustainable economy, with the Boston Consulting Group (BCG) being one of its main partners on this drive.
With Grants 2.0, the foundation isn’t relenting, with Lu stating that the grants will ensure developers working on sustainability products and services get the support they need.
He noted:
Blockchain technology is our most powerful tool to incentivize greater sustainable activity at the individual and enterprise levels, and developers are the key to creating the applications that will drive that change. Our steadfast commitment to them goes hand-in-hand with our commitment to fostering global collective impact.
Under the new program, projects that align with VeChain’s X-2-Earn vision will have a higher chance of success, the foundation states. X-2-Earn is a Web3 economic model in which users get paid for any number of actions, such as play-to-earn in the gaming sector and move-to-earn in the fitness sector.
One of VeChain’s most significant foray has been incentivizing users of a VeChainThor-based ecosystem to take part in sustainable actions for a financial reward.
Lu noted:
…[we]changed its focus to be solely on sustainability and increased the possible funding amount to $100K. Our hope is that developers have the support they need to create the applications that will lead to a better tomorrow.
Aside from its work with BCG, VeChain is powering blockchain applications for some of the world’s largest companies, from Walmart and BMW to the UFC and China Unicom.
