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Layer1 blockchain VeChain (VET) has announced the upgraded Grants 2.0 program, providing up to $100K in funds. According to the press release, the enhanced initiative prioritizes blockchain sustainability. Moreover, it features new funding tracks to satisfy client needs and top-notch opportunities for creators.
Some crucial features of the upgraded program include a focus on sustainability, multiple funding tracks, and increased funding. Creators will enjoy up to $100K in funding, a massive surge from $30K, underscoring VeChain’s dedication to supporting web3 developers.
Moreover, the program brings new marketing microgrants and grants to support projects of different sizes and marketing in the VeChain blockchain. Further, it focuses on sustainable decentralized ecosystems via its X-to-Earn apps.
According to VeChain CEO Sunny Lu,
“Blockchain technology is our most powerful tool to incentivize greater sustainable activity at the individual and enterprise levels, and developers are the key to creating the applications that will drive that change. Our steadfast commitment to them goes hand-in-hand with our commitment to fostering global collective impact.”
With the revamped Grant Program, users will enjoy a smooth submission process, enhanced support, sustainability weighting, updated grant formats, and increased grant sizes. Further, the $100K max grant pool will offer developers significant financial support.
The new Grant Program showcases VeChain’s dedication to tech innovation. It comes after the blockchain integrated with Ledger Live for improved sustainability and scalability.
VET price outlook
VeChain’s price action mirrors the broad market outlook, indicating bearish dominance. VET changed hands at $0.2667 at this publication following a 1.45% dip over the past day. Meanwhile, Bitcoin (BTC) lost 0.42% in its daily chart to trade at $39,815.84.
Nevertheless, analysts believe the crypto sector is bracing for a monumental rally. VeChain’s ongoing developments positions the asset for a significant recovery amidst broad market revival.
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