The latest wave of the Rootstock Grants Program has been a big success — attracting hundreds of applications from top crypto entrepreneurs hoping to build on Bitcoin.
In our previous article covering the first Grants program AMA session, we covered a few questions about the criteria for success, the application and feedback process, and the benefits of building on Rootstock.
With the growth of the Grants program and with more questions coming, the Rootstock community and grants panel hosted a second AMA to answer your questions.
In this article, we go over some of the frequently asked questions about the Grants program. Read along to learn more.
If you haven’t applied yet, you still have time. Apply to the Rootstock Grants program here.
Here are a few things to bear in mind if you’re making an application.
1. Can projects at any development stage apply to the program?
Whether you’re yet to have a working product or already have a presence on other blockchains, the Rootstock Grants team would love to hear from you.
The priority is understanding what the long-term implications of a partnership would be. What can your dApp bring to Rootstock — and likewise, how can our team add value?
When it comes to the application process, providing as much detail as possible matters.
Learn more about the application process in this in-depth guide.
2. What is the Rootstock Grants team looking for in a project?
Usability
There are no specific use cases the team is looking for. However, unlocking utility for existing Rootstock users is front and center of the panel’s mind — as well as attracting newcomers to the ecosystem.
Activity
The team is looking for vibrant ideas that have the potential to increase the number of transactions and active addresses on the Rootstock blockchain.
infrastructure
There’s also a lot of interest in infrastructure projects that can make Rootstock an even better blockchain and further improve usability.
3. Are wallet projects welcome to apply?
The Rootstock grants team keeps an open mind when it comes to the types of crypto projects applying for a grant — and wallet developers are welcome to throw their hat into the ring.
Projects with the best chance of success will have a complete and rich set of features — and may already have a high number of active users on other networks.
Reducing fragmentation and eliminating friction in crypto payments are crucial as Rootstock pushes ahead with its ambition of making Everyday DeFi available to all.
4. Are there other ways to get involved in building on Bitcoin?
Rootstock regularly holds hackathons that allow talented developers to gain fast-track access to the Rootstock grants program.
Past events have centered on specific themes, such as scaling Bitcoin so it can meet the demands of individuals and businesses around the world.
Last year, a number of promising products and protocols were awarded with cash prizes after fully functioning prototypes were established.
Plenty of other initiatives are in the pipeline, so stay tuned to our socials.
5. What happens after you receive the funding?
A total of 27 brilliant projects have already been awarded funding through Rootstock’s Grants Program in previous waves.
Many of them are now thriving — with some entering accelerators and raising money from VCs as they make a success of building on Bitcoin.
It’s also a chance to broaden your horizons, meet like-minded individuals, receive first-class mentorship, and be inspired by a passionate community.
An exciting time to start building
The recent resurgence in the crypto markets has led to renewed interest from curious consumers who want to find out what digital assets can offer.
Rootstock’s ecosystem is home to a diverse constellation of applications that offer something for everyone — from fiat on-ramps to DeFi protocols.
The program is also offering a reward of $250 in Bitcoin for anyone who successfully refers a developer to the grants program.
Alumni from previous waves, such as SafePal’s Veronica Wong, have said it was an “honor” to be involved — describing the technical support received from Rootstock’s team as invaluable.
And if you’ve got a big idea for making Bitcoin a better place, you could be next.
Apply to the Rootstock Grants Program today.
About Rootstock
Rootstock is the first, biggest, and longest-lasting Bitcoin sidechain. It is the only Bitcoin layer 2 that combines the security of Bitcoin’s proof-of-work, with Ethereum’s smart contract capabilities.
Rootstock is open-source, EVM-compatible, and secured by over 60% of Bitcoin’s hashing power, which makes it a gateway to a vibrant ecosystem of dApps that continues to evolve to become fully trustless.
