Waves Association, a non-profit organization supporting the development of next-generation technologies on Waves protocol, today announced a grant program of 1 million WAVES tokens – valued at more than $2.9 million at the time of writing – to improve interoperability in the blockchain ecosystem.
Blockchains with unique features and capabilities have been created through the years to serve an evolving number of use-cases, a diversity that has ultimately led to fragmentation. Acknowledging the importance of connectivity between disparate blockchains and dApps, the Waves Association has committed to awarding grants up to 300,000 WAVES and up to a total of 1,000,000 WAVES to developers and teams addressing the challenges that arise.
"Waves has always viewed interoperability as a key challenge for our industry," said Sasha Ivanov, president of the Waves Association. "Waves Association aims to support independent developers working on interoperability solutions - especially those thinking outside the box. Solving interoperability by adding a dedicated blockchain and native token as an additional layer would only lead to more complexity, undercutting the potential of the proposed solution. Therefore we’ll be looking for more efficient alternatives."
To give various projects an opportunity to take part in this program, the Waves Association will make available three types of grants: open grants, which represent any initiatives from the community, grants distributed through WA hackathons, and Waves specific grants that build upon inter-chain communication.
In the initial stages, Waves Association will announce specific foundational assignments, for which developer teams will be able to apply, and grants of up to 300,000 WAVES will be released to the teams that are best prepared and suited to deliver on the mandate.
Waves Association is launching WavesDAO built on the Waves protocol. All application appraisals and grants issuance are to be stipulated by the grant policy and fully automated by a dApp. Decisions will only be made by authorized Waves Association members.