Mintlayer launches a $4M open-source development grant, opens applications

Mintlayer, a Bitcoin sidechain tech startup, today launched a $4 million open-source development grant to aid the development of tools and resources that will provide value to the Mintlayer ecosystem.

In an announcement on Wednesday, Mintlayer said that applications are open for their grants initiative. The grants are available in $ML tokens, with the equivalency of $4 million currently available at the time of publishing. The grant comes at an ideal time- institutional crypto investments dropped 95% in 2022.

The grants initiative is specifically set aside for projects that would be valuable for the Mintlayer protocol but wouldn’t create a revenue stream.

Founded in 2020, the San Marino, Italy-based Mintlayer is a cryptocurrency wallet that allows its users to store their Bitcoin, MLT tokens, and more securely. Mintlayer also provides “a future-proof blockchain that improves direct token interoperability and enables ways to trade value, create systems, functionalities, and participate in truly trustless finance,” the startup said on its website.

Potential candidates can apply for a grant through the Mintlayer Ecosystem here: https://www.mintlayer.org/en/ecosystem/

Candidates will need a detailed explanation of their project, personal details, and any documentation available that helps prove their ability to bring a project to fruition, or documentation on the progress of the project they are submitting. Recipients will be awarded based on how their project best fits with Mintlayer’s roadmap.

“One of our directives is to attract the best teams, projects, and ideas to the Bitcoin ecosystem via Mintlayer. These grants assure that when developers come with a bright idea, there are resources to build it.” – Enrico Rubboli, CEO of RBB Lab.

Mintlayer is a sidechain that will allow users to build a decentralized finance ecosystem on top of the Bitcoin blockchain. The layer 2 blockchain solution opens Bitcoin to DeFi, Smart Contracts, Atomic Swaps, NFTs, and apps. It will provide a platform to create projects with real-world financial use, paving the way for the development of DeFi projects in the Mintlayer ecosystem.