Key Points
- Arthur Hayes’ fund Maelstrom launches the Bitcoin Grant Program.
- The program will support Bitcoin developers via an open and transparent grant process.
Arthur Hayes’ Family Office Fund Maelstrom announced the launch of the Bitcoin Grant Program.
In the notes revealed via the official website, Maelstrom highlights that Bitcoin is the bedrock asset in the crypto space, and unlike other crypto projects, it has never conducted an offering to raise funds for its technical developments.
Maelstrom relies on the work of open-source Bitcoin developers, therefore it revealed its commitment to give back and donate to the Bitcoin technology which is vital to the crypto ecosystem.
The Bitcoin Grant Program
Maelstrom announced the launch of the Bitcoin Grant Program with the following objectives:
- Helping with the technical development of Bitcoin
- Enhancing the ecosystem’s resilience
- Improving scalability and privacy features
- Boosting censorship resistance
Maelstrom revealed that the team behind the project has the ability to support Bitcoin developers and they are committed to an open and transparent grant process.
According to the official notes, applications have to be submitted before August 25, 2024.
Additional Program Information
The official notes also highlight other important details about the program:
- Grants are issued for 12 months and payments will be made monthly in BTC, USDC, or USDT.
- Grants can range between $50,000 to $150,000 per developer.
- Grantees are expected to contribute to Bitcoin’s technical developments via pull requests or reviewing work for the Bitcoin Core software project.
- Grant stacking is allowed with a capitalization of $250,000 per year.
- Grants will be reportedly awarded in Q3 and/or Q3 2024.
- Candidates should expect at least one interview with a Review Committee member before the issuance of a grant.
- The applications must include at least one reference.
According to the same official notes, the Review Committee includes CIO Arthur Hayes and Grant Program Administrator Jonathan Bier.
Hayes also shared the announcement via his X account, announcing the program and saying that as loyal followers of “Lord Satoshi”, they are doing their part to spread the word.
Maelstrom Fund invests in products, infrastructure, and services, “building the trustless decentralization of everything”, according to their notes on X.
