Introducing the BIFROST Ecosystem Fund
Introducing the BIFROST Ecosystem Fund
We would like to thank you for your immense support towards the BIFROST Incentivized Testnet 2 (BIT2) as well as the Ecosystem Kickstart Initiative(EKI), the key stepping stones to the upcoming launch of our very own mainnet.
BIT2 & EKI
BIT2 has brought more than 10,000 participants who were able to first-hand experience the BIFROST Ecosystem. While individual participants had a fun and meaningful experience, DApps newly joining our ecosystem could also upgrade themselves through various tests.
The Ecosystem Kickstart Initiative which was revealed last month also received much attention. Thanks to everyone who participated in BIT2, we were able to spread the word about the BIFROST Ecosystem. As a result, multiple DApps have decided to join our ecosystem. Over the past month, we felt the absolute need to expand and improve programs to support DApps and the blockchain ecosystem in the long run.
The BIFROST Ecosystem Fund
In an effort to expand on the Ecosystem Kickstart Initiative, the first of the programs headed in the right direction, we would like to introduce the BIFROST Ecosystem Fund. Unlike the Ecosystem Kickstart Initiative, the BIFROST Ecosystem Fund is a perpetual program to continuously support DApps contributing to our ecosystem and to discover and fund new DApps. A total of $10M has been allotted for the fund which will be dedicated towards the growth of the BIFROST Ecosystem. The fund will be distributed in the form of grants and all applications will be thoroughly reviewed internally. Keep in mind that after grant distribution, our team will be regularly monitoring the deployment and maintenance of DApps.
DApps can apply for the grant via this link. All applicants will be evaluated based on the set criteria below, and the grant amount may differ based on the evaluation results.
- Necessity
- Originality (idea, design)
- Code audit
- Usability
- Contribution to other ecosystems (co-dependency)
With the start of the new program, we officially bid adieu to the Ecosystem Kickstart Initiative. We are currently in the process of contacting applicants individually and we would like to thank you for all the support you have shown us! Now, please stay tuned to our ever-growing ecosystem fueled by the new and enhanced BIFROST Ecosystem Fund, ready to welcome many new projects.
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