7 Ethereum Projects Are Getting $175,000 in Grants From ConsenSys

7 Ethereum Projects Are Getting $175,000 in Grants From ConsenSys 1

Venture studio ConsenSys is giving $175,000 to seven different open-source software projects on the ethereum network.

Announced on Oct. 10, these projects include a forward-looking ethereum software client called Lighthouse, an oracle network for off-chain data called Tellor and a mobile decentralized app-builder called Alice, among others.

About the new wave of grant recipients, ConsenSys Head of Experiential Marketing Yadira Blocker said:

“In Wave 1, we saw a lot of applications but they weren’t super strong. In Wave 2, we started to see more credible teams and more unique ideas come to the table.”

So far, the ConsenSys grants program, which launched in February 2019, has received over 150 applications, according to Blocker. Of those 150, 15 projects have been funded to the tune of $330,000 so far.

As announced in September, the third wave of ConsenSys grants is now open for applications with a remaining $220,000 left to give away.

ConsenSys marketing director Daniela Osorio says the purpose of the program is to support under-resourced areas of development that are integral to the ethereum ecosystem but not necessarily profitable.

“The way we find really great projects is we talk to VCs and we ask, ‘What are some great teams you’ve come across that you can’t actually justify funding?’” said Osorio, adding:

“It comes down to this theory of the ‘tragedy of the commons.’ We all need certain pieces to work for everyone else to build something potentially more profitable on top.”

CLR matching

ConsenSys-backed ethereum bounties network Gitcoin is currently experimenting with a novel form of grant distribution called Capital-constrained Liberal Radicalism (CLR) matching.

According to Gitcoin founder Kevin Owocki, CLR matching is the “mathematically optimal way to fund projects people care about.”

The basic idea is that the more individual contributions a project gets, the more money that project should receive from a dedicated grants fund. Using a special algorithm, Gitcoin is able to distribute grant money to match user donations in an impactful way.

Or, put another way: The more individual contributions that are made to a project, the higher the value of grant money that is distributed to that project.

On Oct. 2., Gitcoin concluded its third wave of CLR grant funding, which saw the distribution of $100,000 to 80 open source initiatives.

About the continuation of grant funding innovations, Osorio said:

“I don’t know if there’s ever enough money for people’s academic and research pursuits but I think there’s definitely a lot more community-driven efforts to address the notion and need for public goods funding.”

Joseph Lubin image via CoinDesk archives

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Prove
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022
Crypto Crime
Crypto Crime Surges To Record Highs As Thieves Follow Market Buzz – Chainalysis 2022 Report
February 24, 2022
Bots Circumvent 2FA Login At Coinbase And Other Crypto Exchanges In 2022
Bots Have Circumvented 2FA Logins At Coinbase And Other Crypto Exchanges In 2022
February 17, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Russia
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin28,826 0.29 % 2.60 % 5.12 %
Ethereum1,750.1 0.58 % 4.93 % 13.53 %
Tether1.001 0.05 % 0.04 % 0.02 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
BNB302.10 0.07 % 3.10 % 1.80 %
XRP0.3850 0.04 % 3.41 % 8.70 %
Binance USD1.002 0.38 % 0.40 % 0.19 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana42.06 0.40 % 5.40 % 19.64 %
Dogecoin0.08154 0.94 % 2.66 % 6.36 %

bitcoin
Bitcoin (BTC) $ 28,930.00
ethereum
Ethereum (ETH) $ 1,764.13
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 302.88
xrp
XRP (XRP) $ 0.386336
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.461146
solana
Solana (SOL) $ 42.44
dogecoin
Dogecoin (DOGE) $ 0.080981