The debut of its Grants Program has been announced by Band Protocol, a prominent decentralized oracle network.
Band Protocol Grants Program to Launch to Grow the Ecosystem Faster
By funding initiatives that enhance decentralized applications and Web3, the Band Protocol Grants Program intends to promote innovation, cooperation, and growth within the Band ecosystem.
Band’s constant commitment to promoting a vibrant environment is demonstrated by the launch of the grants program. The platform is dedicated to helping creative projects and developers with support and technical assistance. They want to broaden the reach of decentralized applications, encourage the development of ground-breaking use cases, and hasten the adoption of blockchain technology with this program.
Types of Projects to be Supported by the Grant Program
Four different types of projects will be supported by the grants program.
Core Infrastructure Grants
Projects focusing on enhancing the Band’s fundamental infrastructure will be given grants. The Oracle infrastructure will be improved, security audits will be performed, and tools and documentation to streamline integration and usage will be developed.
Application Development Grants
In order to promote the advancement and uptake of blockchain technology, Band recognizes the critical role that dApps play. They wanted to therefore promote projects that make use of the Oracle network’s capacity to develop decentralized applications in a range of sectors, including DeFi, GameFi, Privacy, and more.
This category is intended to inspire programmers to research the potential of decentralized applications and protocols in order to develop novel solutions that utilize the decentralized Oracle network of Band.
Community Initiatives Grants
Band is aware of the need to build a supportive and active community. Grants will be given to activities that promote community development, education, and awareness in order to achieve this. A stronger Band Protocol community can be achieved by such projects as hackathons, instructional programs, community gatherings, developer outreach programs, and other activities.
Research Grants
In order to expand their understanding of blockchain technology, particularly Band-related topics, academic and professional researchers can apply for funds from Band Protocol. The grants will fund related research on a range of blockchain-related topics, including scalability, security, privacy, and interoperability.
About Band Protocol
It is a cross-chain data oracle platform with the goal of creating premium web3 development product suites. In order to build on-chain smart contract applications like DeFi, prediction markets, and games without relying on a centralized oracle’s single point of failure, the flagship oracle solution gathers and connects real-world data and APIs to smart contracts. A wide range of stakeholders, including Sequoia Capital, one of the best venture capital firms in the world, and Binance, the biggest cryptocurrency exchange, support Band Protocol.
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