Biconomy set up $2 Mn community grants program to augment the web3 boom

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Biconomy, a web3 multi-chain transaction relayer platform has 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.

“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 utilization 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,” the company said.

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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 decentralized 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,” it added.

Further adding to the statement, the company said, “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.”

Speaking on the launch, Aniket Jindal, Co-founder, of Biconomy said, “Web3 has been a technological revolution with concepts such as DeFi, NFTs, Metaverse, etc, exploring the limits of emerging technologies to change 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.”

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

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