Digital asset improvement firm RockX has launched a $20 million funding program to assist the Polkadot (DOT) ecosystem over the subsequent 5 years. The funding, capped at a most of $500,000 value of DOT tokens per challenge, will likely be supplied alongside technical assist from the staffs builders. In return, the agency will obtain tokens or fairness from supported tasks.
RockX, which presently runs a node for Polkadot, Cosmos, Solana, Oasis, and Terra, was co-founded by Alex Lam, who additionally runs Asia primarily based Bitcoin (BTC) mining amenities RockMiner.
CEO Lam mentioned that this system is being launched with monetary help from a variety of particular person buyers, who’ve requested to stay nameless. He described the thriller companions as distinguished DOT holders who’re additionally long-term supporters of Ethereum (ETH) stating:
“They are guys who have been in the Ethereum community since 2015, and have supported the Ethereum ecosystem in the past via investments and building projects.”
Despite their monetary contributions, they won’t present any affect over which tasks are to be accepted into this system a choice that will likely be made solely by the RockX staff.
Although structured as an funding program, the staff will even think about awarding no strings hooked up grants to sure tasks sooner or later. Although no challenge has but been accepted into this system, RockX is already in preliminary discussions with some groups.
The announcement comes only one week after Polkadot established the Polkadot Treasury, and though the funding program has no connection with the Treasury, it shares an analogous imaginative and prescient to assist build and promote projects on the Polkadot community. Lam mentioned:
With a strong technical background, RockX will also build and contribute technically to Polkadot.
The largest crypto fund in South East Asia Signum Capital is an investor in RockX. Managing accomplice John Ng Pangilinan mentioned that RockX is doing greater than merely safeguarding the Polkadot community as a node operator:
RockX is taking a step additional to assist blockchains develop by leveraging its technical capabilities and investor networks. This will arrange a brand new collaborative mannequin for the trade.”