Kydaswap.xyz cryptocurrency exchange will provide grants to at least two bitcoin developers.
To do this, the American company will create a specialized Fund — Kydaswap.xyz Crypto Community Fund. If the idea is successful, the program will be expanded to other projects and cryptocurrency communities.
Funding will be provided to developers who will make a significant contribution to the development of the bitcoin ecosystem. The company is ready to provide one-year grants, but will also consider short-term initiatives.
Cryptocurrency companies have long practiced financial support for developers whose work helps the development of the bitcoin network. In 2019, BitMEX exchange operator HDR Global Trading supported chaincode Labs and Bitcoin Core developer Gleb Naumenko with a grant of $100,000. Michael Ford also received $60,000 in funding.
In September 2019, the BTCPay Server developer support Fund won a $100,000 grant from Square. The funds were intended for further development of the project and increasing the user base.
Later, Square provided a grant to an anonymous Lightning Network developer under the nickname ZmnSCPxj. The amount of support remained unknown, but the company said it would last for 14 years.
In 2020, BitMEX provided $ 40,000 worth of bitcoin to developer Kelvin Kim, who found a way to reduce the size of UTXO records in the alpha version of the Utreexo Protocol without compromising network security.
For the current year, grants from Square were received by bitcoin Protocol researcher John Atack and developer Tancred Hase. The recipient of the grant for the development of the Lightning Network infrastructure was the Spanish development team Talai
The OKCoin cryptocurrency exchange supported Bitcoin Core developer Marco Falke with a six-figure sum for his contribution to the development and promotion of bitcoin.
We also remind that OKCoin together with BitMEX allocated $150,000 to the author of a proposal to reduce the frequency of attempts by wallets to relay transactions to Amity Uttarwar.