Polygon Labs Unveils $720M Community Treasury to Boost Blockchain Innovation
June 12, 2024![Polygon Labs Unveils $720M Community Treasury to Boost Blockchain Innovation](https://cdn.brief.news/images/stories/a173796e5cae72aa638f28444c7b45fc3cf5ecb5cb6b485af356390ccc0e07f5766304a3d51ea03a916b3cc0044d6b65f83e2fd4d81d0e767871db16c59f7654.png)
Polygon Labs launches a $720 million Community Treasury program to support blockchain projects in the Polygon and Ethereum ecosystems.
The initiative will distribute one billion POL tokens over a decade.
An initial allocation of 35 million MATIC tokens will be granted in the first season.
The Community Grants Program, funded by the Community Treasury, is now open for applications.
Professional Grant Allocators will distribute funds to developers working on Polygon.
The program aims to foster innovation and community governance.
Grants will be offered in two tracks: a general grant track for Polygon projects and a consumer crypto track for projects driving crypto adoption.
Notable recipients of Polygon grants include Quickswap, Keom, Jokerace, and Intraverse.
Summary based on 6 sources
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![Polygon unlocks community grants worth $640 million for blockchain builders](https://cdn.brief.news/images/links/a173796e5cae72aa638f28444c7b45fc3cf5ecb5cb6b485af356390ccc0e07f5766304a3d51ea03a916b3cc0044d6b65f83e2fd4d81d0e767871db16c59f7654.png)
VentureBeat • Jun 11, 2024
Polygon unlocks community grants worth $640 million for blockchain builders![Polygon Creates New Grants Program, 1B POL Unlocked Over 10 Years](https://cdn.brief.news/images/links/9621751eaf7098e10552da1b0d5d457414a6c13c7f5290e04f30b07504b7d804830f23646decb00ac6bb6b598477fbff82b681c8296f459d3d55ed00b7c854d6.png)
CoinDesk • Jun 11, 2024
Polygon Creates New Grants Program, 1B POL Unlocked Over 10 Years![Polygon launches $720M Community Treasury for blockchain grants](https://cdn.brief.news/static/default-preview-images/9.png)
Cointelegraph • Jun 11, 2024
Polygon launches $720M Community Treasury for blockchain grants![Polygon Allocates 35 Million MATIC to Fund New Crypto Projects](https://cdn.brief.news/images/links/d4ade236dbd1c25587d157415224bd47927b01278adff6076a23c28960e9e6b079a3bcbc0f6141aa82670023bace4daabf7630371e91e3cfc58c91b7f354776a.png)
BeInCrypto • Jun 11, 2024
Polygon Allocates 35 Million MATIC to Fund New Crypto Projects