The Arbitrum Foundation grant programme will begin a new phase on 15 April.
As announced by the Foundation, the third phase of this grant program will be open to blockchain technology developers and builders interested in participating. from April 15th to the end of June this year.
During this period, blockchain developers will be able to submit their application form in order to qualify for a grant or funding to accelerate the development of their projects.
The Arbitrum Foundation grant program is aimed at supporting developers and builders who use the Arbitrum network to expand blockchain innovation. Specifically, the Foundation noted that the funding and grantmaking of this program seeks to create growth opportunities for decentralized applications (DApps) built on its blockchains, such as Chain, Orbit, Nova, and others.
Driving the construction of DApps from various sectors
In this third phase of its grant program, the Arbitrum Foundation noted that it will maintain a greater focus on transparency and fairness of grants awarded to participating developers and teams. Specifically, the Foundation indicated that grant funding will be allocated considering the stage the project is at, the growth projection, and the type of project.
With this, the Arbitrum Foundation clarifies that it is integrating new avenues for grants to help create specific growth opportunities that are more equitable and that are in line with the needs of each of the projects.
Through its program, the Foundation is committed to fostering the creation and development of projects across different sectors of the blockchain industry, ranging from decentralized financial applications to NFTs, digital gaming, DAOs, and real-world applications.
The amount of grants awarded in previous phases was up to $150.000.
Volatility in ARB price
Despite the announcement of the new phase of the Arbitrum Foundation grant program, the price of the ARB token, native to the blockchain network, has corrected by about 5% in the last week and by 3% in the last few hours.
Data from cryptocurrency price monitoring platform CoinMarketCap shows that the price of ARB is hovering around $1,60 per token, which represents a drop of more than 30% since its all-time high price seen earlier this year, at $2,40 per unit.
However, the setback experienced by the token price is considered by some analysts as an opportunity, due to the potential that the blockchain network encompasses.
Arbitrum is currently one of the most innovative projects in the cryptocurrency industry. Although it was born as another scalability network for Ethereum, its technology has turned it into a promising solution that can redesign the blockchain performance paradigm and drive mass adoption of this innovation with fast and very low-cost transactions.
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