Polygon Labs has announced the relaunch of its Polygon Village program, which includes a new grant program of over 110 million MATIC, currently valued at around $91.3 million. This initiative is aimed at supporting projects within the Polygon ecosystem and helping them grow.
Aside from the funding, the Polygon Village 2.0 program also provides integrated support for projects, including strategic advice, mentorship, co-working spaces, and networking opportunities with venture capitalists. This comprehensive support system is designed to assist projects in their development within the Polygon ecosystem.
Polygon Village 2.0 is part of the Polygon 2.0 upgrade, which was released in September. This upgrade aims to create a network of interconnected Layer 2 chains powered by zero-knowledge proofs and includes the creation of a POL token to replace the MATIC token in various capacities.
The Polygon Village initiative is divided into three components: “Village Grants,” “Village Build Ideas,” and “Village Startup Support.” The Village Grants program welcomes projects at any stage of development across various crypto sectors, such as DeFi, SocialFi, gaming, and infrastructure. There are direct grants of up to 2 million MATIC from the Polygon Foundation for later-stage projects, as well as quadratic funding grants for early-stage teams.
Quadratic funding is a key feature of the Polygon Village initiative, which amplifies available resources by inviting community members to make donations to projects, acting as votes on where to allocate funds. The larger the support, the bigger the match. Polygon has opened two quadratic funding grants, with more to follow.
In addition to Village Grants, Village Build Ideas offers a platform for project inspiration, with 1:1 mentorship and support for teams choosing from a catalog of pre-prepared ideas. Furthermore, Polygon Village Startup Support allows projects to apply for vouchers for various services, from smart contract audits to storage solutions and web3 infrastructure, as well as opportunities to engage with a network of experts, the Polygon Labs team, VCs, and marketing strategists.
Polygon Village also includes Village Builder Houses, and physical hubs for networking and resource-sharing in New York and Lisbon, showcasing the community aspect of the initiative. Overall, the Polygon Village program aims to provide a comprehensive support system for projects within the Polygon ecosystem, helping them to grow and thrive.