New 335m FTM Incentive Program with Gitcoin Grants
The original Fantom Incentive Program has received more than 100 applications and disbursed over 35 million $FTM to some of the top TVL projects on Fantom, helping them grow the Fantom ecosystem and build unstoppable applications on the most accessible and user-friendly blockchain. We want to do more.
We are beyond excited to announce a new 335m FTM Incentive Program in partnership with Gitcoin Grants. Gitcoin has an unprecedented track record of funding projects in the web3 space, and will allow ALL Fantom projects, big or small, from seed to established projects, to apply for matched incentive rewards using their Quadratic Funding mechanism. Fantom’s users decide on the allocations, with greater FTM matching rewards going to the projects that are most loved and supported by their users.
Specifically, our objectives are the following:
- Better support a wider variety of project types. Regardless of whether it’s a DeFi protocol, a games application, an NFT platform, education, critical infrastructure, or whatever it might be, projects should be treated equally and consistently.
- Empower Fantom community in the allocation process. The Fantom Foundation strongly believes in the collective wisdom of Fantom’s users to help reward the best deserving projects. This decentralizes decision making and encourages projects to better serve their users.
- Support smaller teams that are just getting started building on Fantom. Not every project needs to have huge TVL or usage numbers. Achieving product market success takes time. We want the incentive program accessible to builders targeting smaller and more niche audiences. And allow them space for trial and error.
- Fantom will participate in the immediate next Gitcoin Grants round, scheduled in June. As a special launch event the Foundation will match user donations with 3M FTM in this first round. Subsequent rounds will receive 1.5M FTM in matching each round.
- Fantom Foundation reserves the right to approve or deny matching grants to projects at its discretion and to change the details of the matching incentives without notice.
- Fantom Foundation will publish an eligibility policy listing all required criteria in a forthcoming blog post.
- As of today and effective immediately, we’re sunsetting the previously announced incentive programs, both for DeFi and Games. We encourage current and pending applicants to apply for Gitcoin grants in the forthcoming rounds.
- We have more plans for the use of incentives to help grow the Fantom ecosystem and support builders to build unstoppable applications on the most accessible and user-friendly blockchain. Expect to hear more from us soon.