The Arbitrum Foundation, which supervises the creation and maintenance of the Arbitrum (ARB) ecosystem, has announced that it will take submissions for its third phase of grants beginning April 15 and lasting until the end of June.
This announcement comes after the second part of the fundraising drive, which ended on April 3rd. The Grants Program aims to help entrepreneurs enter the Arbitrum blockchain ecosystem and begin their growth journey.
This program intends to foster the expansion of the Arbitrum developer and user community while also attracting elite infrastructure providers to enhance the network’s functionality. This means extending Arbitrum technology’s use to a wider range of markets, use cases, and project sizes.
Phase 3 will continue to focus on decentralized applications (dApps) while also adding grant tracks, a standardized mechanism for awarding funding. Projects will be allocated to different financing tracks based on their type, stage, and potential for growth. To increase equity and transparency in the grant giving process, each grant track will have specific goals and budgets.
The Foundation Grants Program invites projects that contribute to the Arbitrum environment. Phase 3 focuses on dApp projects such as games, non-fungible tokens (NFTs), social platforms, decentralized autonomous organizations (DAOs), and DeFi applications.
To meet the needs of applicant teams, the Grants Program offers two categories of grants: Growth Grants of up to $50,000 are available to small to medium-sized teams with expertise in smart contract development and Web3 product design who want to implement applications on Arbitrum.
The program also offers the Advanced Growth Grant to bigger teams with proven skill in Web3 product development, with grants of up to $150,000 for initiatives launched on Arbitrum.
Most payouts range between $10,000 and $150,000 in ARB tokens. Applications that correspond with Arbitrum’s aims, such as growth milestones, KPIs, and a defined mainnet launch date, are more likely to be accepted into the Grant Program.