TL; DR
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Polygon has reserved a large chunk of the change ($85 million USD to be exact) for developers looking to build decentralized finance products, games, or social platforms on top of the Polygon blockchain.
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By funding projects now, Polygon can expect a series of updates and milestones over the next 1-2 years (referred to as a mid bull run).
Full story
Did you know that Google pays Apple between $18 billion and $20 billion per year to be the default search engine on the iPhone?
(Wild, right?)
But it makes sense! They own the Android operating system, so the only way to penetrate the rest of the mobile market is to pay Apple.
(And it’s a strategy that works: the Google Ads platform earned a cool $224 billion in 2022 alone).
The Polygon team is following a similar strategy to increase the number of users in the chain.
Polygon has reserved a large chunk of the change ($85 million USD to be exact) for developers looking to build decentralized finance products, games, or social platforms on top of the Polygon blockchain.
Individual projects can receive direct grants of up to $1.55 million to turn their ideas into reality.
Here’s why this is a smart move:
You know how we talked about Bitcoin ETF rumors in the last article – and how it doesn’t really matter if it’s true or not – it can/will still affect the price?
This isn’t just a Bitcoin thing.
And in a bull run, the news cycle has an even greater effect on crypto prices.
So by funding projects now, Polygon can expect a series of updates and milestones over the next 1-2 years (aka mid bull run).
Smart!