The Polygon MATIC community treasury plans to unlock 1 billion tokens over the next decade to spur blockchain development.
This initiative, established through community consensus, will allocate 100 million POL tokens annually to support builders. POL will eventually replace MATIC as Polygon’s native token.
Starting Tuesday, builders can apply for “Season 1” of the program, where 35 million MATIC (around $22 million) will be distributed to projects on Polygon. Applications are open until August 31, 2024, with grants ranging from 5,000 to over 50,000 MATIC.
The Polygon Community Treasury is an independent fund to support the Polygon ecosystem’s development and growth. Initially, grants will be given in MATIC due to the ongoing transition to POL.
This effort is part of Polygon’s 2.0 roadmap, which includes a technical upgrade for the MATIC token, allowing the new POL token to be staked across multiple chains in the Polygon ecosystem.
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