Giant Bitcoin Exchange To Offer First Grants For Open Source Ethereum Projects

In a first for the US-based cryptocurrency exchange, Kraken announced that it will help fund open source Ethereum projects.

Cooperation With Gitcoin
Kraken said in a blog post Thursday that it will partner with Gitcoin, an Ethereum-based community fundraising platform, to reward developers who create the blockchain’s “most basic software.”

The exchange stressed that in the eighth round of Gitcoin Awards, Gitcoin will distribute prizes of up to $150,000 with donations made in the “Ethereum Infrastructure Tech” category.

From December 3-18, developers and teams that meet their funding goals through Gitcoin will be eligible for an appropriate grant from the exchange.

What Does Gitcoin Do?
Gitcoin provides an open market place for developers and donors to connect, while providing builders with opportunities to build relationships and contribute to projects trying to improve open source technology infrastructure.

“Ethereum and DeFi are built on open source software, ” said Kevin Owocki, Gitcoin’s CEO. ” Kraken is excited to reward volunteer developers who have built the infrastructure of the crypto economy with their generous contributions, ” he says.

Kraken also provided a $ 150,000 grant last month to Brink, an independent organization that funds Bitcoin’s open source developer community.

To date, the exchange said it has donated over $ 500,000 to blockchain projects while helping several developers find full-time jobs.

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