0x Announces Token Grant Program Within The Snowstorm Of Crypto Winter

December 14, 2018 6:59 PM

0x believes it can warm up development with its grant program.

According to a release shared with ETHNews, 0x today announced its 150-million token grant initiative, called the Ecosystem Acceleration Program, intended to promote development of infrastructure projects and relayers on the 0x network. The 150 million ZRX tokens (around $42 million as of press) will help 0x achieve three objectives: to accelerate early-stage projects building on 0x, to invest in resources to support all teams developing on 0x, and to promote technical breakthroughs via research grants.

Will Warren, co-founder and CEO of 0x, noted:

“The 0x ecosystem has grown organically to service a wide variety of markets, ranging from in-game items to traditional financial assets. It’s important we continue the great work that’s already been done by accelerating development in the ecosystem by supporting exciting projects that share our vision for a more open financial system.”

Over 15 teams have already received grant funding, with the average allocation sitting around $40,000. However, funding amounts vary from $10,000 to $1 million depending on the project. One recipient is Radar Relay, a P2P token-trading platform built using the 0x protocol. Radar Relay said:

“The 0x team was actively engaged, listening to our early insights and iterating on the protocol to continually move the 0x ecosystem forward. The support from 0x accelerated the launch of Radar Relay’s API [application programming interface] and SDK [software development kit]. The additional resources allowed us to focus on developing tools that better serve the developer community.”

0x’s charitable efforts arrive amid the flurry that is crypto winter. Lots of companies are downsizing as the price of Ether (and other cryptocurrencies) continues to fall.

Despite the tenor of the cryptospace, companies like 0x are holding fast and continuing to support development. In fact, María Paula Fernández of Golem spearheaded a Twitter list and GitHub repository of job openings throughout the crypto community. Many organizations have tweeted at or direct-messaged her with employment opportunities they would like to share.

News of 0x’s Ecosystem Acceleration Program comes about a week after the team released 0x Instant, an open-source tool that allows developers to integrate token purchasing into their product experiences.

Dani Putney is a full-time writer for ETHNews. He received his bachelor’s degree in English writing from the University of Nevada, Reno, where he also studied journalism and queer theory. In his free time, he writes poetry, plays the piano, and fangirls over fictional characters. He lives with his partner, three dogs, and two cats in the middle of nowhere, Nevada.

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