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.
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.