We at Matic Network are aware of the struggle that blockchain developers face when they start out building their product. We ourselves are lucky that we had great friends who supported us with seed amounts (~USD 10k) to help us get started. After that, we got to building and showcased our progress to our supporters, resulting in follow-on investments. This support was crucial to allow us to reach the MVP stage for our Network.
Leveraging our experience we wanted to create a program that would provide that “little helping hand” to enable determined developers bring their ideas to reality.
The major hurdles that developers face while developing Blockchain-based applications are:
- Technical issues like Scaling, UI/UX, Developer Tools
- Financial issues (Runway to create at least a basic MVP)
- Talent Sourcing ( It is both expensive and hard to come by in the blockchain space)
- Reaching out to investors after MVP stage is complete, especially when you are not based out of Blockchain Hubs like Berlin, San Francisco, Singapore, or Tel Aviv
These are the very problems we at Matic Network also grappled with, especially due to our team being based out of India. Thankfully we were able to navigate through that phase and now Matic is now at a stage where we want to share our learnings to assist developers starting out with DApp/DeFi product development.
We want to help teams tackle these aforementioned issues to ensure they are able to focus better on building their applications. To make this possible, we are initiating a Developer Support Program (DSP) which will provide developers/teams building on Matic/Ethereum with:
- Early Support grants
- Technical guidance from our team and network
- Security audit support
- Marketing & Promotional support
- Helping with investor connections*
- Access to Matic sponsored hackathons to test product ideas and recruit talent
Matic will be allocating a sum of 500,000 USD to fund grants for DApps and other DeFi/Ecosystem projects accepted to this program. Since Matic sidechains are essentially EVM sidechains, any projects being built for Ethereum ecosystem which directly support Matic sidechains too will also be eligible for the grant. The aim is to take Ethereum to the masses.
We have already started with the program with Cryptostaw, A peer to peer payment application leveraging DAI on Matic sidechains, is the first project to be accepted to the DSP. We supported Chetan Badhe — the founder at Cryptostaw with not just a funding grant but mentorship and marketing support as well.
If you are building a DApp on Ethereum, you can be a part of this program as well. As a first step of the selection process please fill the DSP application form : https://matic.network/developer-support-program/
For those who are new to Matic Network please read more about us here:
Note: We are thinking to create a consortium of investors who are willing to back DApp/DeFi developers alongside our fund, especially those who can make introductions for teams that could integrate Matic Layer 2 into their blockchain solutions. Interested VCs can contact us as firstname.lastname@example.org