Bitcoin Sidechain Announces $4 Million Grant Initiative
It has been announced that Mintlayer, a sidechain that empowers users to establish a decentralized finance (DeFi) ecosystem on the Bitcoin (BTC) blockchain, is presently open to receiving applications for its grants initiative.
The grants will be in $ML tokens, with a total of about $4 million available as of April 5.
The primary aim of the grants initiative is to foster the expansion of the Mintlayer ecosystem by financing the creation of valuable tools and resources.
It is worth mentioning that the decrease in institutional crypto investments during 2022 presents a favorable opportunity for developers.
Enrico Rubbol, CEO of RBB Lab, has emphasized the importance of attracting top-tier teams, projects, and ideas to the Bitcoin ecosystem through Mintlayer. Rubbol believes that these grants guarantee the availability of resources to execute innovative concepts.
It’s important to note that Mintlayer’s L2 blockchain solution opens Bitcoin to DeFi, Smart Contracts, Atomic Swaps, NFTs, and applications.
However, the grants are only intended for projects that would benefit the Mintlayer protocol and not generate any new sources of income.
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Applicants are required to provide a detailed explanation of their project, personal information, and any supporting documentation demonstrating their capacity to complete the project.
They must also provide documentation on their project’s current state of development.
The grant recipients will be selected based on how well their product aligns with Mintlayer’s roadmap. Mintlayer ultimately aims to create a platform for developing DeFi projects with genuine financial applications, laying the foundation for the growth of DeFi initiatives within the Mintlayer community.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
