HashKey, Kraken Ventures, Tribe Capital-Backed Nibiru Chain Plans $15M+ in Developer Grants to Supercharge Ecosystem Growth

 Nibiru Chain, a secure smart contract platform that simultaneously addresses decentralization, security, and scalability, has revealed its long-term initiative, Nibiru Builder Grants, to fuel its developer ecosystem by allocating more than $15 million in grants, equivalent to ~2.5% of token supply as of Apr 2024. Embedded within that initiative is a $5 million grant allocation dedicated to the Asia region.

 

“The Nibiru ecosystem is excited to stand behind the passionate developer community, empowering builders to become catalysts for positive Web3 transformation. The grants initiative will supplement ongoing aid in partnership pairings and access to mentors, industry experts, and experienced developers,” expressed Erick Pinos, Ecosystem Lead at Nibiru. “This initiative also allows Nibiru to actively elevate the visibility of ecosystem projects through dedicated marketing support.”

“We’re thrilled to unveil the long-term initiative to bolster the developer ecosystem with a $5 million sleeve specifically for the Asia region. Asia-based developers can interact with growth and community efforts; understanding Asia is a hallmark priority," said Brandon Suzuki, Head of Growth at Nibiru. “With KPI-based milestones to provide aligned interest between the broader network and the grant recipients, the grants initiative will further fuel for acceleration.

As part of its Ecosystem Support and Incubation Opportunities initiative, Nibiru’s Competitive grants program will operate on a milestone basis alongside key performance indicators, ensuring developers’ engagement and sustainability towards the overall chain. At the same time, ecosystem partners will also gain access to Nibiru’s VCs — including Tribe Capital, ArkStream, NGC Ventures, Master Ventures and others — which may offer venture funding opportunities and support to the most promising projects. 

Nibiru will also be hosting ongoing hackathons with prize pools of up to $100,000 per event, offering accelerator opportunities in numerous dApp categories, including Real-World Asset (RWA) tokenization, Web3 gaming, DeFi, SocialFi, and others.

Additionally, Nibiru will introduce an innovative reward mechanism that allows developers to earn a portion of transaction fees (gas) every time their smart contracts are executed. This positive feedback loop is aimed at investing in bright individuals shaping the network to propel Nibiru’s growth. Developers will also be able to receive bounties for building out requests for protocols (RFPS).

In the future, Nibiru plans to introduce even more reward structures based on metrics like Total Value Locked (TVL), further enhancing the potential for projects to be self-sustaining, receiving a clear line of sight to cash flow from pure development efforts. 

As part of the Nibiru ecosystem network, the platform will offer referrals, discounts, and priority access to a network of auditors, legal firms, accountants, and market makers. Beyond this, Nibiru will provide introductions to accelerators and VC funds — essentially, everything a developer team needs to go from ideation to inception.

Apart from the grants program, Nibiru will also continue to launch community-facing initiatives. For example, Nibiru has distributed 22.5 million NIBI tokens—worth around or more than $10 million—to community members who participated in the Testnet and X Airdrop campaigns. 

Airdrop reward earners will also be eligible to mint a Genesis NFT, which will give them access to an exclusive Decentralized Autonomous Organization. The utility of the Genesis NFT Collection will continue to be expanded, including early access to Nibiru dApp programs. 

Consequently, community members will be able to participate in governance and create their own proposals, such as requesting certain amounts of NIBI from the community pool to fund initiatives like on-chain tasks to drive usage. Nibiru’s exclusive ambassador program will also select and reward top contributors.

By launching this wide array of incentive programs for developers and community members, Nibiru is taking a transformative leap from establishing its foundational Layer-1 and native core dApp base layer to nurturing an ecosystem teeming with third-party builders.

Today, Nibiru’s ecosystem already encompasses a diverse range of dApps and infrastructure across DeFi, NFTs, RWAs, gaming, developer tools, and much more. These verticals will continue to serve as the network’s backbone, driving innovation and setting new benchmarks in the blockchain space.

Reporter Jim Lee (news@dailycoinews.com)의 기사 더 보기

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