Maelstrom, a crypto venture capital firm led by BitMEX Founder Arthur Hayes, has announced a grant program designed to support Bitcoin developers.
Arthur Hayes' Maelstrom Launches Bitcoin Developer Grant Program
The initiative aims to support Bitcoin's technical development, flexibility, scalability, censorship resistance and privacy.
“Maelstrom, like other companies in the space, indirectly relies on the work of open source Bitcoin developers. Therefore, we want to give back and donate to the Bitcoin technology on which the crypto ecosystem depends,” the company said on its website.
The grant program offers funds ranging from $50,000 to $150,000 per applicant, to be awarded in monthly installments over 12 months.
Payments can be made in Bitcoin (BTC), USD Coin (USDC) or Tether (USDT). Grantees are expected to contribute to the technical development of Bitcoin, potentially through pull requests or code reviews for the Bitcoin Core software project.
Applications for the grant program must be submitted before August 25, and awards are planned to be announced in the third or fourth quarter of this year.
Maelstrom, run by Hayes' family office, makes venture-stage investments of $100,000 to $250,000 in early-stage DeFi projects. Recent investments include modular network project Elixir, synthetic dollar protocol Ethena and bitcoin trading application Oyl.
In June, Hayes joined blockchain data infrastructure startup Covalent as a strategic advisor, serving as Maelstrom's chief investment officer.
*This is not investment advice.
