Gitcoin and the Sei Foundation have partnered to create the $10 million Sei Creator Fund, aimed at fostering growth in the Sei blockchain ecosystem.
Developer platform Gitcoin and the non-profit Sei Foundation have announced a partnership to establish the $10 million Sei Creator Fund. The Sei Foundation is responsible for the Sei blockchain. The goal of this project is to use the Gitcoin Grants Stack to encourage the Sei ecosystem’s expansion.
To facilitate the most efficient exchange of digital assets, the Sei Network developed an open-source Layer 1 blockchain. It supports interoperability because of its compatibility with the Inter-Blockchain Communication Protocol (IBC) and its construction utilizing the Cosmos SDK framework. With a block finality time of only 380 milliseconds and a potential capacity to perform 12,500 transactions per second, Sei Network is among the quickest blockchains currently accessible.
On June 4th, the first “Kick Off Round” will commence. A $250,000 matching pool will be available to support projects in a wide range of sectors, including but not limited to: social platforms, decentralized crowdfunding, Web3 creative tools and infrastructure, creator decentralized autonomous organizations (DAOs) and collectives, decentralized content platforms, and non-fungible token (NFT) marketplaces and tools.
Veterans who actively participate in the Sei ecosystem, as well as newbies who offer fresh perspectives, are all potential participants. Teams who want to be considered must do more than just participate; they must also help build the Sei ecosystem in the areas mentioned and actively engage with the community through things like outreach, social media, and efforts to increase Sei adoption and engagement.
Additionally, projects should adhere to Sei Network’s fundamental principles and provide a workable strategy with a budget.
The Gitcoin Grants Stack is where interested parties can apply after they’ve created an account on builder.gitcoin.co.
Gitcoin’s funding platform empowers open-source developers
The financial technology company Gitcoin has built a blockchain-based platform that open-source developers can use to make money off of their work.
Grant program managers can make use of Gitcoin’s Grants Stack, which streamlines their management process and makes it easier to supervise and extend grant programs.
Among other things, the stack covers program deployment, applications, and fund allocation. While project owners can seek funding, apply to grant programs, and establish their Web3 reputation, supporters are encouraged to discover and back new projects.