Blockchain
Manta Foundation Introduces $50 Million EcoFund to Advance Blockchain Innovation
The Manta Foundation announced the launch of its $50 million EcoFund, aimed at cultivating a robust ecosystem for leading blockchain projects, according to Manta Network. This initiative is part of the foundation’s commitment to providing funding opportunities and support to developers for innovative projects in the blockchain space.
Funding and support opportunities
The EcoFund, which will run for one year starting June 15, offers substantial financial support through its Ecosystem Grant Program. The program is designed to boost early-stage projects with grants of up to $50,000, providing essential seed funding to bring innovative ideas to fruition.
In addition to grants, the EcoFund provides an allocation of $35 million for direct investments in promising projects being developed on the Manta network. This strategic investment focuses on high-growth initiatives that align with Manta Network’s long-term goals, fostering an environment of collaboration and mutual growth.
Diversified project focus
The Manta Foundation is committed to supporting a wide range of projects in various sectors, including DeFi, games, NFTs and more. These initiatives are selected for their potential to drive consumer adoption and significantly contribute to the growth of the Manta Network ecosystem.
Applications for the EcoFund are accepted on an ongoing basis, ensuring ongoing funding and support opportunities. The foundation places a strong emphasis on projects that demonstrate a solid business model and scalability, with the aim of ensuring the financial health and sustainability of the ecosystem.
Specialized financing categories
In addition to general grants, the EcoFund also targets specific focus areas with high growth potential:
- AI/DePIN: Focused on leveraging artificial intelligence and decentralized physical infrastructure networks to drive innovation and create sustainable solutions.
- Zero Knowledge: Investments in zero-knowledge technology to improve privacy and security within the blockchain space.
- Memecoins: The Moon Mission Grant supports the development and acceleration of meme projects on Manta Pacific, promoting a vibrant memecoin culture.
Events and Hackathons
To further enrich the ecosystem, the Manta Foundation has allocated $5 million for online and offline events and hackathons. These events aim to attract new developers and users, cultivating a culture of innovation and collaboration within the Manta Network community.
Information about the Manta network
Manta Network is a modular blockchain designed for zero-knowledge (ZK) applications. Manta Pacific, its modular L2 ecosystem, supports ZK applications and native dApps for EVMs, offering low gas rates and a seamless user experience. Manta Network was founded by a team with backgrounds from prestigious institutions such as Harvard, MIT and Algorand, and has received investments from leading web3 funds including Binance Labs and Polychain Capital.
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