Biconomy, a web3 multi-chain transaction relayer platform announced a $2 million community grants program dedicated to supporting and encouraging budding blockchain developers, content creators and projects. These grants will be allocated across the next six months as part of the overall Biconomy DAO’s mission to make web3 mainstream.
This DAO will be another step towards decentralized governance as it would allow the recently onboarded $BICO holders to participate in decision making through voting on pertinent matters such as the utilisation of funds. It will also give out grants & bounties to ppl who help bring more ppl to web3 via applications or education. In addition to this, token holders can also participate in open discussions and create proposals for further enhancement of the Bico-system.
With the launch of this DAO, Biconomy aims to roll out regular grants and bounties to further encourage the growth of futuristic startups and increase web3 mass adoption. The focus is also to build a robust multi-chain infrastructure with user-friendly decentralised applications (dApps) that remove barriers to entry and enhance Biconomy’s ecosystem. Furthermore, Biconomy is looking to encourage and support various web2 brands that are exploring web3 technology and ideas.
The blockchain sector has changed the global technology landscape significantly and has crossed the trillion dollars mark last year. Globally recognized as a technology hub, India has been at the forefront of this technology and has been one of the early contributors to this space. With blockchain startups increasing consistently, India has the third-largest startup ecosystem in the world with more than 63000 startups, of which 88 are unicorns already.
“Web3 has been a technological revolution with concepts such as DeFi, NFTs, Metaverse, etc, exploring the limits of emerging technologies with the aim of changing traditional systems into modern and sustainable structures. Biconomy’s mission is to have a community-run mechanism and with our token launch and now this DAO, we are steadily moving towards this future. We hope to provide opportunities and uplift numerous innovative web3 ideas through this grants program.”, Aniket Jindal, Co-founder, Biconomy
Launched in 2019, Biconomy’s mission is to facilitate decentralized blockchain interactions and create seamless multi-chain experiences. By enabling use cases such as gasless transactions, gas payments in ERC20 tokens, instant cross-chain transactions & easy onboarding to scaling solutions, Biconomy reduces the friction between blockchain-based applications and end-users. With the launch of its native token, $BICO, on Coinbase, Binance, WazirX, and 30 other exchanges, in October of 2021, which led to an addition of over 12000 token holders in the ecosystem, Biconomy is moving towards a community-run infrastructure.