The Avalanche Foundation has announced the launch of the Avalanche Community Grants Program, a pioneering initiative designed to foster innovation and development within the Avalanche ecosystem.
The program, created in partnership with Gitcoin, the leading Web3 grants platform, aims to empower the Avalanche community by allowing them to play an important role in funding projects and developers that contribute to the ecosystem’s growth.
Avalanche and Gitcoin improving community-driven development
The Avalanche Community Grants Program represents a significant step towards creating a more inclusive and community-focused ecosystem. By leveraging Gitcoin’s extensive experience in managing Web3 grants, the program is set to match community donations with grant funds, thereby amplifying the impact of crowdfunding efforts within the Avalanche ecosystem.
Starting March 26, submissions for the first round of grants will be open to teams and individuals who have previously contributed to or plan to contribute to the Avalanche ecosystem. The initiative underscores the Foundation’s commitment to supporting a wide range of projects, from public goods software and analytics to gaming and NFTs, all of which contribute to the vibrancy and diversity of the Avalanche ecosystem.
A new era of collaborative funding
The program will feature multiple rounds of funding, each with specific criteria, deadlines, and funding limits. Utilizing the Gitcoin Grants Stack, the program will employ a combination of quadratic and retroactive funding models to optimize the distribution of grants. The innovative approach not only democratizes the funding process but also ensures that projects with the highest community support receive the necessary resources to thrive.
Gitcoin’s track record of supporting open-source software and development projects in Web3 is unparalleled. Having facilitated over 4.2 million unique donations and allocated more than $60 million in funding, Gitcoin has played a crucial role in the growth of notable Web3 projects such as 1inch and Uniswap. The partnership with the Avalanche Foundation is set to bring the proven funding model to the Avalanche ecosystem, offering a unique opportunity for community members to directly influence the ecosystem’s development trajectory.
How to participate in the grants program
The Avalanche Community Grants Program is open to a broad spectrum of projects that support or advance the Avalanche ecosystem. Interested parties can apply for grants by submitting their projects during the specified application periods and engaging with the community on the Avalanche Forum for discussions and voting.
Voting on grant allocations is a straightforward process that involves creating a profile using Gitcoin Passport and verifying one’s identity. Once the voting period commences, community members can donate to their preferred projects, with donations being converted into votes using the quadratic funding model. The model ensures that the projects with the most widespread community support, rather than just the largest donations, receive the highest matching rewards.
A commitment to ecosystem growth
The Avalanche Community Grants Program is a testament to the Avalanche Foundation’s dedication to nurturing and expanding its ecosystem. The initiative, distinct from the Foundation’s ongoing incentive programs, offers a novel approach to funding that emphasizes community involvement and support.
As the program kicks off, the Avalanche community is invited to learn more about the grants, participate in the voting process, and join the conversation on the Avalanche Grants Telegram chat. The collaborative effort between the Avalanche Foundation and Gitcoin marks a significant milestone in the journey towards a more open, decentralized, and community-driven future in the Avalanche ecosystem.
