Nibiru Chain Unveils $15M Grants for Developers

Nibiru Chain is launching a $15 million grant program to support developers focusing on security and scalability in smart contracts.

Nibiru Chain’s security and scalability-focused smart contract platform will provide developers with more than $15 million through the long-term program Nibiru Builder Grants.

According to the corporation, the award program is a component of an effort to accelerate ecosystem growth. Nibiru will allocate $5 million of the grant funds to the Asia-Pacific area, as per the release.

The organization believes that operating the program on a milestone basis and measuring its results against key performance indicators will guarantee developers’ participation and sustainability with respect to the chain as a whole.

“The Nibiru Chain ecosystem is excited to stand behind the passionate developer community, empowering builders to become catalysts for positive Web3 transformation,” stated Erick Pinos, Ecosystem Lead at Nibiru, in a statement in response to the announcement. The grants program will continue to assist in matching partners and providing mentors, business leaders, and seasoned developers with access.

“Understanding Asia is a hallmark priority,” stated Brandon Suzuki, Head of Growth at Nibiru, in response to the $5 million allotment to the Asian market. 

“The grants initiative will further fuel acceleration with KPI-based milestones to provide aligned interest between the broader network and the grant recipients,” Suzuki continued.

Additionally, the program gives ecosystem partners the chance to get extra funding from venture capital firms (VCs) that support Nibiru, such as Tribe Capital, ArkStream, NGC Ventures, Master Ventures, and others.

Nibiru Chain is going to organize continuing hackathons with prize pools of up to $100,000 per event in addition to the grant program. These hackathons will offer accelerator chances across many dApp categories, such as Real-World Asset (RWA) tokenization, Web3 gaming, DeFi, and SocialFi.

As part of its developer-focused ecosystem, the business will also implement a reward system that will pay developers a percentage of transaction costs each time their smart contract executes. We also plan additional incentive systems based on additional parameters like total value locked (TVL), airdrops, and bounties for expanding requests for protocols (RFPS).