The investment fund managed by the family office of BitMEX co-founder Arthur Hayes just announced the launch of a grant program that aims to support the advancement of the Bitcoin (BTC) network.
In a statement, Maelstrom says that the Bitcoin Grant Program will provide funding to Bitcoin developers with the objective of helping in the technical development and improvement of the flagship cryptocurrency.
“Maelstrom, like other companies in the space, indirectly relies on the work of open-source Bitcoin developers. We are therefore keen to give back and donate to the Bitcoin technology, on which the crypto ecosystem depends.
The program will give grants ranging from $50,000 to $150,000 per successful applicant which will be paid in BTC, USDC or USDT in monthly installments over a period of one year.
Grantees are expected to give back by contributing to the technical development of Bitcoin, which may include pull requests or review work for the Bitcoin Core software project.
“The objective of the program is to help with the technical development of Bitcoin and enhance its resilience, scalability, censorship resistance and privacy characteristics.”
Developers should submit their applications before August 25th. Maelstrom says the grants will likely be awarded by the third or fourth quarter of the year.
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