Nibiru Chain, backed by investors like HashKey, Kraken Ventures, and Tribe Capital, has launched a $15 million grant program called “Nibiru Builder Grants” to support developers in the Asian market. The initiative aims to enhance the capabilities of the blockchain platform and will distribute grants in the form of tokens (NIBI) equivalent to approximately 2.5% of the supply among innovative developers. Ecosystem Lead Erick Pinos expressed excitement about supporting the developer community and empowering builders to drive positive transformation in Web3.
The grants initiative will provide ongoing aid through partnership pairings, access to mentors, industry experts, and experienced developers. Additionally, it will elevate the visibility of ecosystem projects through dedicated marketing support. A dedicated allocation of $5 million in grants is specifically targeted at projects in the Asia region, with a focus on engaging Asia-based developers in growth and community efforts. Head of Growth Brandon Suzuki highlighted the importance of the region in the initiative and emphasized the use of KPI-based milestones to align interests between the broader network and grant recipients.
In addition to the grant program, Nibiru Chain will host regular hackathons with prize pools of up to $100,000 to foster innovation in various dApp categories such as tokenization of real-world assets, web3 gaming, DeFi, and SocialFi. The network is also implementing a new reward mechanism that allows developers to earn a share of transaction fees each time their smart contracts are executed. Furthermore, a bounty system will be set up for developers who fulfill protocol request for proposals (RFPs), providing them with additional rewards for their contributions to the ecosystem.
The launch of the Nibiru Builder Grants initiative is part of a strategic effort to support developers and enhance the capabilities of the Nibiru Chain platform. The long-term grants totaling over $15 million will provide financial support to innovative developers and empower them to drive positive transformation in the Web3 space. By supplementing ongoing aid with access to mentors, industry experts, and experienced developers, Nibiru aims to create a supportive ecosystem that fosters collaboration and innovation in the Asian market and beyond.
With a focus on the Asia region, the initiative includes a dedicated allocation of $5 million in grants to support projects in the area. This targeted approach aims to engage Asia-based developers in growth and community efforts, recognizing the region’s importance to the initiative’s success. By implementing KPI-based milestones to align interests between the network and grant recipients, Nibiru aims to fuel acceleration and drive innovation in the developer ecosystem. Additionally, the network will host regular hackathons and reward mechanisms to further encourage developers to contribute to the growth and development of the platform.
