What is the recipe of success for any blockchain network? You should get a technology, capable of handling a huge workload, throw a pinch of use cases, and season this dish with a great community. But many networks stall without use cases, and the only way to get them is by attracting new projects. A network with many active dApps is a thriving network, and Everscale has been rising like a master chef’s souffle so far.
Now though, with the kick-off of the Grants program, we aim to pump our simple souffle full of start-up steroids, providing developers with everything they need to build their dream dApps on Everscale. And to add more cheese to the crust, our new initiative, Everscale Scouting Grants Program, will build an army of the project ambassadors, all with one goal: to entice more projects to build on Everscale!
Everything you need to know about the Grant and Scouting programs
The idea is simple. For every project which meets our criteria and receives a grant, the scout will receive a certain percentage of the value of the allocated grant. We plan to create the guide for Scouts and the marketing materials, so it would be easier to show all benefits of Everscale for any potential project that might join the network.
The criteria for what defines a successful project is simple. We like well-thought-out tokenomics, a detailed roadmap, and built-in monetization. The project must be able to sustain itself in the long run. We offer technical help with integrations, but in general, the team of the project must have enough expertise to function and build independently. We’re fully committed to helping all new projects in the onboarding process, though.
The size of the grant depends on the utility of the project and the potential audience size. There’s no floor, but every case will be reviewed independently by the DeFi Alliance. So it’s crucial to clarify how the new project will complement and benefit the network. The team taking decisions on grants allocations consists of 10 members from DeFi Alliance, Broxus, IT Gold, with an expertise in various areas, such as DeFi, banking, development, etc.
Please note: the program does not fund businesses, it’s not an investment fund, and those involved do not ask for or receive shares/equity in the project after providing a grant. Our goal is to help independent teams launch on Everscale and grow with us by offering them some marketing and technical support.
Metrics of the Grants program
Currently, we have 35 projects that expressed their willingness to the program and submitted the applications. Six of them (2 wallets, a service for recurrent payments, an E-Sports platform, a news portal and an AML service) received grants. The majority of submitted projects are NFT and DeFi-related.
Of course, some of these applications were rejected, lacking a thought-out proposal, roadmap, or presentation. Some of them come to us with just an idea. We don’t finance ideas, we provide funds for integrations into Everscale and some additional functionality, but the candidate has to show something functional, at least a demo. So far, 9 projects have been accepted to the program.
Stages of Grant Application Submission
Teams applying for the Grants should expect the process to occur as follows:
- An introductory call/meeting with the team and brief project presentation
- An in-depth technical interview (evaluating the complexity of the integration and the team’s technical proficiency).
- A thorough due diligence, a deep dive into the project and team.
In our evaluation, we look at three main points:
- The potential audience that can be attracted to Everscale by the project
- The potential TVL of the project, we’re interested in getting new liquidity on Everscale
- The existing community of the project in other networks.
In the first two rounds, we gave grants to the projects from our community, because we didn’t have many external applications. Now we’re focusing on the projects from the other networks. So, we’re waiting for your applications!
