Gitcoin + Matic: A Staking Partnership

Hello, Gitcoiners!

At Gitcoin, we love bringing good news — new projects built, relationships formed, skills learned. Even better when we find opportunities to fund the building of open source projects. Today we’ve got great news. And not just 1, but 2 great ones.

We’ve formed a long term partnership with Matic to collectively grow the scalability community of Web 3.

#1 Matic Layer2 Security Hackathon – The great bounty hunt

Between 8 – 22 July, Matic is challenging all adventurous and skillful coders to explore Matic’s design and code, searching for any species of vulnerabilities. Focus your searches especially on Matic’s staking and delegation-related smart contracts, and compete for one of their hefty prizes.

The Matic team is staking 4 tiers of rewards, ranging between $300 and $5,000, with an exciting twist: each prize can benefit from a bounty multiplier (between 1 and 10), increasing the prize value to a maximum of $50,000!

Find out more about the hackathon’s requirements, explore Matic’s documentation and check out their judging criteria 👉 here.

Ready to hunt? Sign up for the hackathon, gather your team and start exploring Matic’s code!

Join the Matic Layer2 Security Hackathon

#2 Matic Build-n-Earn Program – Assisting dApps to thrive

Once the code is all cleand up, we’re excited to announce that Matic Network is partnering with Gitcoin to launch the Build-n-Earn Program –  assisting dApps to thrive – starting in August.

Matic will be committing $50K monthly for projects which utilize Matic in their dApps. $15K of the $50K will be used in a CLR matching pool, where, leveraging Gitcoin Grants, Matic and Gitcoin community members can vote for projects of interest with their own donations to these projects. 

Build-n-Earn is a monthly recurring incentive program designed to support the OSS community’s ventures into Ethereum transactions development and scalability, through grants offered by Matic’s passionate team. These grants will support developers through the development and maintenance stage of their decentralized application.

This program is an early sign of things to come using community signal to fund great open source projects. We’re excited to work with Matic to chart this path — building up on the 6 Gitcoin Grants rounds which have happened thus far which have helped allocate $2MM to Ethereum projects.

How does the program work?

Dapps submitted through the Build-n-Earn program are evaluated through a process of consensus between the Matic team and Gitcoin’s community voting.

Matic will put forward a monthly fund of $50,000 to be distributed among the winning dApp teams. 30% of the funds will be reserved by Matic for the matching pool within the quadratic funding offered by Gitcoin, while 70% will be allocated by a set of reviewers designated by the Matic team based on their pre-defined parameters.

What type of dApps are eligible for Build-n-Earn?

Matic focuses on simplifying the interaction between users and the decentralized world. They’re looking for ideas that will make interacting with the decentralized ecosystem so easy that anyone can do it without worrying about the complexity of the system.

From wallets to gaming networks, any idea that would make Ethereum transactions a leaner and more accessible experience, is eligible for Matic’s monthly funding. The only condition is that the dApp is developed on the Matic network, which has a full blown EVM support. They like to say if you are an Ethereum Developer, you already know Matic 😉

Who can apply for Matic’s program?

As long as you have a decentralized application built on Matic, the answer is anybody can! If your application is currently on Ethereum or some other blockchain, don’t worry – you can easily use Matic as it has full EVM support and discover their high-performance, low-fee infrastructure.

Their team will help you make this transition quick and painless.

Where do I start?

Read all about Matic’s plan to bring more dApps into the space, get familiar with the Matic Network and join their Tribe for more discussions. Then gather your team, get your dApp ready for evaluation and submit your work through Matic’s dedicated grants on Gitcoin 🤞

Ready….steady….dApp! Apply for a Matic Build-n-Earn Grant now.

What if I want to run a similar program for my ecosystem?Building a community where you want to support builders in your ecosystem? Consider joining Matic as a leader in providing funding for projects adding value to your community. Reach out here to learn more.