- Arthur Hayes' Maelstrom announces Bitcoin grants to support open-source Bitcoin developers and further promote network development.
- Grants awarded will range between $50,000 and $150,000 per recipient, distributed over 12 months in monthly installments.
BitMEX Co-founder Arthur Hayes-led crypto venture capital, Maelstrom, today announced a new Bitcoin grant program to advance the technical development of the world’s first blockchain network.
“Bitcoin is the bedrock asset in the crypto space and unlike other crypto projects, Bitcoin never conducted an offering to raise funds for its technical development. Maelstrom, like other companies in the space, indirectly relies on the work of open-source Bitcoin developers,” the Maelstrom's website read.
“We are therefore keen to give back and donate to the Bitcoin technology, on which the crypto ecosystem depends.”
The BitMEX co-founder also took to a post on X, unveiling the firm’s first Bitcoin developer grant program.
“As loyal followers of Lord Satoshi, we are doing our part to spread the word,” Hayes wrote on X.
Announcing the @MaelstromFund #Bitcoin Developer Grant Program. As loyal followers of Lord Satoshi, we are doing our part to spread the word. Please apply on our website, link below, if you would like to submit a proposal.https://t.co/3xOdyrjTzS
— Arthur Hayes (@CryptoHayes) July 17, 2024
According to the announcement, the program aims to give back to Bitcoin open-source developers and further promote network development.
Grants awarded will range between $50,000 and $150,000 per recipient, distributed over 12 months in monthly installments in BTC, USDC, or USDT. Awardees are anticipated to contribute to Bitcoin's technical progress, possibly through pull requests or code reviews for the Bitcoin Core software project.
Edited by Harshajit Sarmah
