The global blockchain market, which saw an estimated value of $4.8B in 2022, is now on an astounding trajectory, projected to surge at a CAGR of 85.7%, reaching $2334.46B by 2031. The data undeniably reflects the explosive growth of the Web3 landscape.
As this transformative wave gains momentum, many projects are emerging in the blockchain space. Web3 domain, in particular, lays solid ground for innovation, where novel ideas and value-enhancing concepts are appreciated and actively supported. Web3 organizations recognize the potential of such ventures and are stepping up to offer grants to foster their growth.
This article discusses Web3 Grant programs that can drive your Web3 endeavours to new heights. If you’re looking to fortify your startup, we’ve curated a list of the top 7 grant programs that can unlock boundless opportunities for you.
How Grants Fuel the Growth of Your Web3 Idea?
Often, startups/individual developers possess brilliant project ideas but deal with financial challenges when it comes to execution.
In such scenarios, exploring existing grant programs tailored to support projects based on specific criteria is crucial. For instance, certain grant programs support the development of projects within specific ecosystems, or certain programs aim to enhance project security by providing Smart contract audit grants.
Here’s an actionable plan to position your project for Grant opportunities:
- A Clear Development Roadmap: Start by outlining a precise development plan and narrow your focus to a specific blockchain platform that aligns with the protocol you intend to build.
- Project Building: Begin building your project, ensuring clear-cut documentation of each step of the process.
- Research Funding Organizations: Identify funding organizations that closely align with the parameters and objectives of your project.
- Analyze Program Details: Scrutinize the expenses involved and learn about the duration of the grant program you’re interested in.
- Application process: Once you’ve identified the grant program that matches your project’s specifications, submit a well-documented application that clearly outlines your vision and plan.
To assist you further, here’s an extensive list of Web3 grant programs you should consider applying for in 2023.
Navigating the Web3 Grants Landscape
QuillAudits WAGSI Grants
QuillAudits stands at the forefront of safeguarding protocols and digital assets to fortify the Web3 landscape, ensuring a more secure and resilient environment.
QuillAudits Grants program is designed to empower developers who build DeFi protocols, NFTs or any other projects in Web3. Under this program, eligible projects can access credits of up to $3,000, which can be utilized to cover the project’s security audit costs.
Eligibility Criteria: QuillAudits welcomes a diverse array of applicants, whether you’re an individual developer, a visionary builder, a DAO (Decentralized Autonomous Organization), or an early-stage startup WAGSI grants apply to any of the above, making project audits feasible within the grant’s financial scope.
Success Cases of Grant Recipients
Geegs: Geegs introduces the concept of Tokenized Employment Contracts (TECs), which are non-fungible digital agreements that contain job deliverables and escrowed crypto payments. Upon the completion of work, funds are transferred to the designated recipient, while the TEC transforms into a Soulbound completion badge.
Wow Talkies: For movie enthusiasts immersed in the Web3 universe, Wow Talkies provides an engaging platform where fans can ascend to the status of super fans.
Furthermore, Earth Coin, Last Man Standing, and other innovative projects have also received WAGSI Grants.
Grant Information: WAGSI Grants Programme – QuillAudits
Chainlink is a decentralized oracle network that securely connects smart contracts within blockchains to external data sources and API.
The Chainlink grant program is applicable for developers to bolster projects that actively contribute to the Chainlink ecosystem.
Eligibility Criteria: Chainlink grants are for both seasoned developers and new talents who showcase exceptional projects demonstrating the adept utilization of diverse technologies. And also for projects that actively engage in the community development of Chainlink and ultimately contribute to the expansion of the entire ecosystem.
Success Cases of Grant Recipients
Protofire: This project is built upon a Hardhat plugin designed to autonomously set up a local Chainlink Oracle.
Chaos Labs: Chaos Labs is a cloud-based testing environment for smart contracts that integrates Chainlink oracles within its sandbox testing environment.
Additionally, Chainlink Community grants have also supported projects such as Hack.bg, Nomic Foundation, IC3, etc.
Grant Information: Grants for Blockchain Developers | Chainlink
Alchemy’s WAGBI Grants
Alchemy, a blockchain development platform, empowers developers to create cutting-edge blockchain applications, providing the resources to bring groundbreaking ideas to life.
The Alchemy WAGBI grant program is designed to support developers as they continue to build DeFi protocols, immersive NFTs or embark on any project that advances the adoption of Web3 technologies.
Eligibility Criteria: Alchemy extends its welcoming arms to builders who aspire to dive into the world of Web3. Whether you’re planning to create an NFT marketplace, a cutting-edge DeFi protocol, or any other innovative project aimed at advancing the Web3 ecosystem, Alchemy’s WAGBI grant program is here to support your vision.
Aave Grants DAO
Aave is a decentralized, open-source, and non-custodial liquidity protocol reshaping decentralized finance sector. With Aave, users can seamlessly earn interest on their deposits and access a wide array of borrowing options.
Aave Grants DAO is a community-led initiative that fuels innovation within the Aave ecosystem. This grants program empowers the Aave protocol’s diverse community, comprising developers, DeFi projects, community builders, and anyone with ideas contributing to the greater Aave Ecosystem’s growth.
Eligibility Criteria: Aave Grants are distributed to support protocol development, developer tooling, code audits, DAOs, community building, events and hackathons, etc., within the Aave DAO sphere.
ChaosLabs and Llamaxyz are some of the notable projects within the Aave ecosystem that received the grants. These grants served as the launchpad for their contributions, allowing them to become full-time contributors to the Aave community.
Grant Information: Aave Grants DAO
The Graph Foundation Grants Program aims to encourage the development of The Graph Network and tooling, collaboration with third-party developers, and thereby expand the usage of subgraphs and grow the community of network participants.
Eligibility Criteria: The program supports individuals and entities passionate about contributing to The Graph. It includes developers, project teams, researchers, community builders and so on.
Success cases of Grant recipients
Core Developer Grant to StreamingFast: The project focus was on core protocol development, indexing services, and performance enhancements. It also encompassed multi-blockchain expansion, GIP (Graph Improvement Proposal) implementation, and developer education.
Xiki: Xiki is a notes app for coders, enabling the execution of code snippets and commands directly within markdown files. Its support for GraphQL queries, rust snippets, and server start-up commands facilitates seamless collaboration for subgraph developers and indexers. Xiki provides access to documentation, specific snippets for subgraph experimentation, and to explore decentralized protocols like IPFS.
Grant Information: The Graph Foundation (notion.site)
The Algorand Grant Program is designed to fuel visionary projects within the Algorand ecosystem. Algorand, renowned for its high-speed blockchain platform, is dedicated to empowering the creation of next-gen financial products, protocols, and value exchange.
Success Cases Of Grant Recipients
Exberry: Exberry is a primary issuance and secondary trading platform on top of Algorand, with tight integration to the Exberry matching engine.
1circle: is a community on Algorand for global Chinese speakers who are interested in learning about crypto trends, Dapp’s and projects built on Algorand.
Grant information: Ecosystem Funding (algorand.foundation)
Solana blockchain facilitates the development of scalable and secure decentralized applications.
The Solana Foundation Grants Program supports projects within the Solana blockchain ecosystem. Beyond providing financial support, this program offers unwavering technical guidance and aid in recruitment efforts aimed at helping visionary teams transform their innovative concepts into reality.
Eligibility criteria: The program funds projects committed to promoting an open and censorship-resistant digital landscape, DAO tooling, developer tooling, education, payments/Solana Pay, and academic research to widely explore the potentials and possibilities of Solana and blockchain technology.
Grant information: Grants | Solana: Build crypto apps that scale
The thriving Web3 industry actively provides community support through grant programs. By gaining insight into the grant application processes and drawing inspiration from the success stories of fellow startups within the ecosystem, you can significantly enhance your prospects of securing essential funding for your own project.
It’s essential to note that grant requirements and application procedures can vary widely among different organizations. Always refer to each organisation’s official website to ensure you have the most accurate and up-to-date information.
QuillAudits stands as your dedicated partner in securing Web3 protocols against vulnerabilities and threats within the Web3 ecosystem. For more information and to explore how we can protect your Web3 ventures, visit our website today.