Polygon zkEVM Turns to Grants to Lure Builders in DeFi Push

Polygon zkEVM introduces the zkBuilder grant for Polygon zkEVM developers.

NFT characters approaching the Polygon Matic coins.
Created by Kornelija Poderskytė from DailyCoin
  • Polygon zkEVM is launching a grants program for DeFi builders.
  • The program appears to be the first initiative of the mainnet beta stage 2.
  • The network’s new DeFi push will also see it increase its throughput.

In January 2024, Polygon Labs outlined a fresh DeFi focus for Polygon zkEVM as part of the network’s mainnet beta stage 2 following nearly a year of security and infrastructure improvements. The firm has announced a grant to support builders in what appears to be the first initiative in this new direction.

The Polygon zkEVM zkBuilder Grant

On January 13, Polygon Labs introduced the zkBuilder Decentralized Grants Program for developers building projects on the Polygon zkEVM.

Detailing the program’s aim, Polygon Labs stated that the scheme was intended to help projects launch faster, easily gain users, and foster collaboration. According to the team, the grant did not intend to completely eradicate the fundraising process or entirely subsidize the growth of projects.

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The grant is open to innovative new projects and projects already launched on other chains looking to extend their presence to the Polygon zkEVM. 

What You Need to Know About the Polygon zkEVM Beta Stage 2

The Polygon zkEVM mainnet beta stage 2 will bolster dApp growth and DeFi activity over the next two months. Polygon Labs DeFi Lead Jack Melnick has asserted that at least 30 projects are expected to roll out on the network within this time.

Aside from onboarding new projects, stage 2 would see the network increase its throughput through a client upgrade.

On the Flipside

  • Polygon Labs did not disclose the amount allocated for the grant.
  • Arbitrum, the leading Ethereum Layer 2 solution by TVL, also offers developers grants. In December 2023, the project increased its Short-Term Incentive Program (STIP) budget to over $70 million.

Why This Matters 

The recently announced grant could lure innovative projects to the Polygon zkEVM, boosting adoption and further heating things up in the Ethereum Layer 2 landscape.

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Read this for more on the Polygon zkEVM stage 2 beta:
Polygon zkEVM To Bolster DeFi Activity in Mainnet Stage 2

Learn about Polygon’s latest attempt to win ApeCoin DAO’s business:
Polygon Boosts “ApeChain” Bid with $3M Fund Post Vote Loss

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.