Maelstrom, the family office fund led by BitMEX co-founder Arthur Hayes, has unveiled a new initiative geared toward supporting Bitcoin’s technical development via a dedicated grant program.
The Bitcoin Grant Program, introduced by Maelstrom, aims to enhance Bitcoin’s resilience, scalability, censorship resistance, and privacy features. Developers are invited to submit packages for funding before August 25, 2024. The program will run for one year and helps bills in BTC, USDC, or USDT. Each selected developer will receive between $50,000 to $150,000 in funding, with the possibility of overlapping grants up to a maximum of $250,000 per year.
Maelstrom Praises Bitcoin For Its Potential
In the report, Maelstrom emphasised Bitcoin’s foundational role inside the cryptocurrency space, noting that, unlike other projects, Bitcoin has never conducted a fundraising offering for its technical development. The fund sees this initiative as a manner to give back to the Bitcoin community and assist the broader infrastructure on which the wider crypto ecosystem relies.
“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 Bitcoin technology,” said Arthur Hayes, CIO of Maelstrom and a prominent figure in the crypto industry.
Maelstrom positions itself as a family office fund investing in decentralized technology, reflecting its dedication to fostering innovation inside the blockchain and cryptocurrency sectors. The fund’s launch of the Bitcoin Grant Program underscores its determination to transparency and community aid in advancing Bitcoin’s technical abilities.
A Call For The Developers
Developers interested in applying for the Bitcoin Grant Program can get extra information and publish their proposals on Maelstrom’s official platform. The program aims to not only bolster Bitcoin’s development but also strengthen its role as a resilient and privacy-focused digital asset in the global financial landscape.