Arthur Hayes announces Maelstrom’s first Bitcoin developer grant program to boost the crypto ecosystem.
Arthur Hayes, the co-founder of BitMEX, has recently made a significant announcement regarding his early-stage investment fund, Maelstrom.
Hayes announced the company’s inaugural Bitcoin developer grant program in a post on X today, July 17.
This advancement has elicited a commotion in the broader industry, serving as an endeavor to improve the crypto ecosystem.
The program, which is designed to increase the number of BTC developers, has rapidly acquired traction in the market. Here is an overview of the program.
The BitMEX co-founder’s post on X today highlighted the ‘Maelstrom Bitcoin Developer Program.’
This program is designed to facilitate the technical advancement of Bitcoin and improve its resilience, scalability, censorship resistance, and privacy attributes.
Maelstrom’s official website declared, “We are dedicated to an open and transparent grant process and have the ability to assist Bitcoin developers.”
The fund encouraged developers to submit applications, emphasizing that the final submission deadline was August 25.
Concurrently, the fund disclosed additional critical information regarding the grant program. This encompassed the following:
- Payments will be made monthly in the form of BTC, USDC, and USDT, and grants will be issued for a period of 12 months.
- The grant will provide a range of $50,000 to $150,000 to each developer.
- Grants are anticipated to be awarded in Q3 and Q4 2024, provided that they are approved.
- Developers seeking additional information may consult the Maelstrom official website.
The family office of BitMEX co-founder Arthur Hayes administers the platform, which it refers to as a firm.
It is committed to “establishing an enduring portfolio of infrastructure companies that will serve as the bedrock of the subsequent wave of trustless decentralization.”
The investment fund typically concentrates on small-cap venture-stage investments, ranging from $100K to $250K (equity plus tokens).
At the same time, the aforementioned announcement is anticipated to further transform the development of blockchain protocols, smart contracts, and dApps that utilize Bitcoin.
Arthur Hayes disclosed that the organization is considering assisting developers in the BTC ecosystem, as “Bitcoin is the bedrock asset in the crypto space,” which implies that it is a critical element of the crypto ecosystem.
Additionally, it is important to note that this announcement is made in the context of BTC’s remarkable recovery following an adverse trend in recent rays.
Today, the price of Bitcoin (BTC) was $65,183, representing a 3.49% increase from the previous day.
