Worldcoin Foundation Launches $5 Million Community Grants Program’ Wave0′
The iris-scanning project Worldcoin (WLD) has unveiled an initiative aimed at supporting innovators working on resilient technology and fostering more equitable systems.
On December 6, the Worldcoin Foundation unveiled a community funding initiative called “Wave0,” allocating $5 million for this program. The grants are designed to empower developers to concentrate on constructing adaptable technology and more equitable systems on the Worldcoin platform.
The initiative, backed by Sam Altman, the CEO of OpenAI, will distribute the grants through the Worldcoin Foundation, a non-profit organization supporting WLD’s endeavors. The foundation will allocate $5 million in funding across three grant tracks, with payments made in WLD tokens, which run on the Ethereum blockchain.
The grant plans to allocate about 2 million coins across three tracks in the Worldcoin Tech Tree. Firstly, the community grants track allocates up to 5,000 WLD for sponsorships, hackathons, and similar initiatives.
Also, the project grants track aims to support large-scale projects with grants of up to 25,000 WLD. The Open Track Grants will focus on the most significant and ambitious projects, with no specific budget, and will receive amounts on a case-by-case basis. The grants will support research and development efforts, particularly those exploring the intersection of privacy and biometrics.
Other potential recipients include projects that propose use cases leveraging Worldcoin and World ID, the protocol’s identification system. Notably, projects supported by the grants are expected to contribute to the advancement of the Worldcoin Tech Tree, focusing on improvements in World ID applications, protocol, user agents, hardware, and operations.
To ensure
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