Blockchain

Web3 Foundation Funds 400 Projects On Polkadot

The Web3 Foundation has received hundreds of applications from projects looking to build on Polkadot, about 40% of which have been approved by the organization.

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The Web3 Foundation (W3F), the organization responsible for funding Polkadot, has passed the milestone of 400 approved projects. Since its launch in December 2018, W3F has approved 40% of hundreds of applications from projects looking to build within the Polkadot ecosystem.

Web3 Foundation funds are not limited to Polkadot and the project’s parachain network, but this is where most of the organization has invested.

W3F has shared details of projects approved so far to celebrate this milestone for its grant program. The organization revealed that as many as 1,054 grant applications had been submitted, with 415 approved.

The scope of these projects varies widely, covering all areas of web3, from the infrastructure layer to middleware and consumer applications. W3F has funded projects ranging from wallets, developer tools, and APIs to smart contracts and user interface development.

Projects that receive Web3 Foundation funding are relatively evenly distributed around the world, with 14% of the development team coming from the US, 13% from China, 8% from Singapore, and countries like Australia, Japan, and Argentina also have many representatives.

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The completion of 400 project grants for Polkadot comes at a rather busy time for the Layer 1 blockchain that is receiving the most attention from the community in recent times. Especially Polkadot has just announced a new governance model ready to improve the way of decision making in common with the platform.

In addition, blockchain development company Polkadot – Parity Technologies also added senior personnel despite the challenging market to further expand the development scale for the project, with the first impression by upgrading the process of staking DOT became easier when deciding to change the entire look and feel of the new staking site.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.