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Kraken will distribute $150,000 to Ethereum developers
Kraken will distribute $150,000 to Ethereum developers
Ethereum

Kraken will distribute $150,000 to Ethereum developers

By Marco Cavicchioli - 4 Dec 2020

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Kraken has officially announced that it will distribute $150,000 to open-source projects on Ethereum, in collaboration with Gitcoin. 

Gitcoin is a fundraising platform based on Ethereum, with the goal of growing the open source community while maintaining an open, free and fair market. 

These Kraken grants will be the first donations of the exchange to projects on Ethereum, chosen because it is considered a mature project and a platform for decentralized applications.

The exchange will be the main contributor to the Gitcoin Grants Round 8 campaign, and will combine its funds with grants in the “Ethereum Infrastructure Tech” category, designed specifically to reward developers who build the blockchain’s most essential software. 

The fundraising campaign will run from December 2nd to 17th, and developers and teams receiving funding via Gitcoin will be able to receive an additional grant from Kraken in a proportionate amount, up to a total maximum of $150,000

Gitcoin CEO Kevin Owocki said: 

“Ethereum and DeFi are built on open-source software. With their generous contribution, Kraken is excited to give back to the volunteer developers building the infrastructure of the crypto economy”.

Kraken and investments beyond Ethereum

In reality, the exchange claims to have already funded more than $500,000 worth of blockchain projects to date, helping several developers find full-time employment. 

Among these funded projects is Brink, who was given $150,000 to create a Bitcoin developer training centre focused on education and funding open source contributors. 

Kraken is interested not only in Ethereum, Bitcoin and Lightning Network, but also in Monero and other blockchains, inviting developers to submit their projects to apply for funding. 

The company calls “unsung heroes” the passionate contributors of open source code to whom many important innovations in this field are owed, so much so that Bitcoin and cryptocurrencies would simply not exist without these developers. 

That’s why they started their open source grant program designed to foster the fundamental work to help cryptocurrencies realize their full potential.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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