2024-06-12
On June 11, 2024, Polygon announced an initiative for blockchain builders called “1 Billion Unlocked Over Decade in Community Grants Program for Polygon Builders".
Season 01 of the Community Grants
Program will allocate 35 million MATIC to builders on Polygon or builders willing to migrate to
Polygon.
35 million MATIC will allocate towards
funding the best projects across the Polygon and Ethereum landscape.
S01 applications open on June 11, 2024
and close on Aug 31, 2024. Each project will receive between 5,000 and 50,000
or more in MATIC.
This move is aimed at fostering growth
and innovation within the Polygon ecosystem.
The Community Treasury, which was
formed through community consensus, will distribute around 100 million Polygon
ecosystem tokens (POL) annually.
It equals to 1 billion POL over a
period of 10 years in grant funding for Polygon builders. This distribution is
part of a long-term plan, with a total of one billion POL tokens set to be
allocated over a decade.
Polygon 2.0 will change the native
token from MATIC to POL. POL will be used for all chains. Polygon will announce
migration date for swapping MATIC to POL using smart contract on the upcoming
Polygon Improvement Proposal (PIP).
MATIC is immutable token. While, POL is
mutable token.
POL will have a 2% yearly inflation
rate in which 1% of POL’s inflation will go to funding for projects on Polygon.
The difference between MATIC and POL is POL will have a 2% yearly inflation rate over the next 10 years. Another 1% uses for rewarding validators.
