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Developers can apply for $4 million open source development grant from Mintlayer, the Bitcoin microchain.

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Mintlayer, the Bitcoin microchain, recently launched an open source development grant program with $4 million worth of tokens available to developers.

Mintlayer funds innovation in the Bitcoin ecosystem

The Mintlayer Grants initiative is specifically designed for projects that will be valuable to the Mintlayer protocol but may not necessarily be profitable. Projects that can create value within the Mintlayer ecosystem, but may not involve issuing pre-customized code or generating a revenue stream, are encouraged to apply for a grant. Those who may be eligible for funding include those related to community building, research, education, or improving the usability of the Mintlayer protocol.

Interested candidates can apply for a grant through the Mintlayer Ecosystem by providing a detailed explanation of their project, personal details and relevant documents that show their ability to realize their idea. Recipients will be chosen based on how well their vision aligns with the Mintlayer roadmap.

Enrico Ropoli, CEO of RBB Lab, said the grant initiative aims to attract the best teams, projects and ideas into the Bitcoin ecosystem via Mintlayer. This way, developers have the resources to bring their creative ideas to life.

The Mintlayer Ecosystem Fund, a partnership between blockchain-oriented investors and other stakeholders in the Mintlayer ecosystem, is dedicated to driving innovation in the emerging Bitcoin-centric decentralized finance (DeFi) ecosystem built on Mintlayer.

The fund primarily invests in projects that make unique and new contributions that help make Bitcoin more practical and interoperable with different DeFi use cases. Most of the fund’s investments are expected to range from $50,000 to $200,000, providing significant support for early-stage projects.

Mintlayer Scholarships are driving the growth of the crypto market

Mintlayer grants are critical as institutional crypto investments are down dramatically in 2022.

According to a recent report by James Butterville, crypto fund investments in 2022 were the lowest since 2018, with digital assets seeing inflows totaling just $433 million for the full year. This represents a staggering 95% decrease compared to 2021, when inflows totaled $9.1 billion, and a decrease of 93% from 2020 when inflows reached $6.6 billion. The challenging year for the cryptocurrency markets was further highlighted by the decline in the global market cap, which started at $2.3 trillion and ended at $829 million, resulting in a loss of nearly 64% of the market value.

Mintlayer also offers acceleration programs for experienced teams with well-defined ideas and roadmaps ready for implementation. Selected teams will be able to work closely with senior venture capitalists and advisors, who will provide guidance and support in fundraising and help go-to-market on their intended schedule.

In addition, Mintlayer encourages free and open source development through its grants initiative. As the cryptocurrency market continues to evolve, initiatives like this can play an important role in driving the growth and adoption of blockchain technology, particularly in Bitcoin.

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