Mintlayer, a sidechain for Bitcoin's blockchain, recently announced a grant initiative with a total of $4 million available. This grants' purpose is to grow the Mintlayer's ecosystem by funding the creation of useful tools and materials. The announcement of this grant comes at an opportune moment, after institutional crypto investments dropped by 95% in 2020. Through this initiative, the CEO of RBB lab, Enrico Rubbol expressed the willingness to attract the best developers, projects and ideas to the Bitcoin ecosystem. This grant will only fund projects beneficial to the Mintlayer protocol, and not generate any new sources of income.

Mintlayer intends to create a platform to provide opportunities for decentralized financial use, with Smart Contracts, Atomic Swaps, NFTs and apps, all built on the Mintlayer protocol. Applications for the grant are open now and candidates are expected to provide all the necessary documentation, such as project explanation, personal information and current stat of development to get approved. The selection process depends on the candidate's ability to incorporate the project into the Mintlayer's roadmap. With this opportunity, Mintlayer desires to create a framework for the DeFi movement in the cryptocurrency ecosystem.



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