Polygon Labs To Boost On-Chain Activity With Grants Of 110M MATIC Tokens Worth $78M

Polygon Village, owned by Polygon Labs, announced that more than 110 million Polygon MATIC tokens, worth $78 million, will be distributed to projects and builders in the Polygon ecosystem.

Polygon Ventures’ Investment Principal Abhishek Saxena is a panelist at Benzinga's Future of Digital Assets Event. He will be a part of the discussion, “Unraveling the Potential and Challenges of the Next Internet Revolution.”

You will surely not want to miss how the discussion unfolds and leads us to the future opportunities of the sector. Dfinity and Decrypt are also a part of the same discussion.

Also Read: Polygon 2.0 Witnesses Milestone: POL Contracts To Replace MATIC On Ethereum Mainnet

Part of Polygon's relaunch is mainly for pushing on-chain activity.

The projects including DeFi projects, app chains, gaming, infrastructure, and social startups can apply for grants, and they can be at any stage of development. Later-stage projects will be given 2 million MATIC tokens as direct grants while early-stage teams will be able to apply for quadratic funding grants. Currently, there are two quadratic funding grants available with more grants to be revealed later.

Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join our Nov. 13 Fintech Deal Day and Nov. 14 Future of Digital Assets. Secure a spot here to join them.

Besides the grants, Polygon Village will also offer mentoring opportunities and introductions to venture capitalists in the ecosystem. They will also provide founders access to builder houses and co-working spaces located in New York and Lisbon. Interested founders will also be given vouchers and discounts in security and smart contract audits, storage, computing, oracle infrastructure, and others.

Read Next: USDC Integration In Polygon Network Marks A Step Forward In Speed, Cost Efficiency

Price Action: MATIC token in the past hour has seen a gain of 2.5% in its price, while the past week has shown an increase of 23.6%. In the past 24 hours, trading volume has seen a surge of 39% while market cap expanded by 1.4%.

DeFiLlama data indicates that Polygon PoS is one of the largest blockchains with a total value locked (TVL) of $1 billion while its zero-knowledge (zk) solution, Polygon zkEVM reports TVL of around $22 million.

Benzinga's Future Of Digital Assets Event in New York is scheduled on Nov.14. Attend and learn more about Polygon Ventures and its next steps in the future. The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.

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