Polygon Grants Hackathon
The Polygon Grants Hackathon is the first Polygon-centric grants hackathon. Co-organized and hosted by DoraHacks in late 2021, the hackathon attracted 137 Polygon local projects competing for a $100,000 prize. These prizes are divided between the secondary funding pool and the referee pool.
The hackathon was created to encourage early stage businesses worldwide. Projects have the opportunity to present their demos to the community. The top 3 projects receiving community funding are:
- Energy8：Polygon integrated solution for game server owners enables players to earn cryptocurrency while playing their favorite PC games such as Minecraft.
- Symphony Finance：A protocol where users can create limit orders by simply depositing SELL assets with multiple profit maximizing strategies.
- Zeromatic Protocol for private payment system Zpayments. Polygon powers Zpayments, where users can send and receive funds anonymously and securely.
DeFi for All Fund
Polygon launched the #DeFiforAll Fund in Q1 2021, a $10 billion fund plan to add the “next million users” to DeFi. Funding is provided in MATIC tokens, which will be deployed over the next 2-3 years.
On February 8, 2022, Polygon launched a new $200 million Web3 fund in partnership with Seven Seven Six, a venture capital firm led by Reddit co-founder Alexis Ohanian.
A $20 million fund to help lead dApp development on Polygon, co-launched with leading digital asset market maker Wintermute.
Polygon recently raised $450 million in a venture capital financing round led by Sequoia Capital India. With a market cap of around $13 billion, Polygon is the first of its kind for a venture-backed scaling solution to Ethereum. The funds will be used to hire more developers to build more scaling solutions. Polygon will also use the funds to build a larger developer ecosystem in multiple markets.