On April 18, 2023, Aleph Zero, a layer-1 privacy-backing blockchain, unveiled a $50 million Aleph Zero Ecosystem Funding Program. It’s believed that Aleph Zero Foundation, responsible for supervising Aleph Zero-based developments, intends to support global blockchain adoption, as stated by Cointelegraph.
According to Cointelegraph, Antoni Zolciak, co-founder, Aleph Zero, stated that “the goal of the Aleph Zero Ecosystem Funding Program is to fund innovations from developer teams that expand the capabilities, functionalities, and adoption of the Aleph Zero blockchain.”
Based on information by Cointelegraph, the ecosystem funding program consists of grants, incubation and acceleration around product development, with successful applicants eligible for $500,000 per project through grant funding. Sources suggest that grant recipients will get entry to Aleph Zero’s venture capital pool, infrastructure credits from Amazon Web Services and Kudelski Security’s design consultations.
“The Aleph Zero Foundation is actively seeking to support a diverse range of projects that add value to the ecosystem. When selecting grant recipients, we consider the ability of the team to enhance network usage and adoption, their execution capabilities, and the uniqueness of the project,” Magdalena Oleksy, lead, Aleph Zero ecosystem, said.
Moreover, Cointelegraph noted that the funding program is supported by NxGen, Diamond Atlas Capital, BlackDragon, Necker Ventures, Hodl.nl and Hodl Ventures, Pragma Ventures, RR2 Capital, Cardinal Cryptography and Cardinal Ventures, Bellwether Rocks, Offbeat, among others.
(With insights from Cointelegraph)