In a groundbreaking move, Polygon Labs has declared the grand reopening of Polygon Village, accompanied by a substantial grant program exceeding 110 million MATIC, presently valued at approximately $91.3 million, aimed at nurturing projects within the flourishing Polygon ecosystem.
As outlined in a comprehensive blog post, Polygon Village 2.0 stands as a cornerstone for projects, offering an integrated support system that spans strategic guidance, mentorship, co-working spaces, and networking opportunities for entrepreneurial minds, all in addition to financial backing.
This redevelopment is a pivotal part of the September-released plans for the Polygon 2.0 upgrade. The initiative aims to introduce the POL token, replacing MATIC in various capacities, and construct an intricate network of interconnected Layer 2 chains supported by zero-knowledge proofs.
The three-pronged approach of “Village Build Ideas,” “Village Grants,” and “Village Startup Support” defines this initiative. The community grants program invites projects at any development stage within the cryptocurrency space, covering sectors like DeFi, SocialFi, gaming, and infrastructure.
The substantial funding pool of over $90 million encompasses distinct quadratic funding awards tailored for early-stage teams and direct grants from the Polygon Foundation that go up to 2 million MATIC ($1.7 million) for later-stage projects.
Beyond the realm of grants, “Village Build Ideas” acts as a springboard for individuals seeking project inspiration. It provides 1:1 mentorship and support to teams choosing from a curated list of preconceived ideas with project potential.
Furthermore, projects can leverage Polygon Village Startup Support to apply for vouchers, gaining access to services such as smart contract audits, storage solutions, and web3 infrastructure like oracles and tooling. These vouchers also open doors for projects to engage with venture capitalists, marketing strategists, the Polygon Labs team, and a network of tech experts to successfully launch their ventures.
In the spirit of community building, Polygon Village introduces “Village Builder Houses,” tangible hubs in Lisbon and New York facilitating resource sharing and networking opportunities for the vibrant Web3 community.