Maelstrom Launches Developer Grant Program to Support Bitcoin Development
Maelstrom, the cryptocurrency investment fund led by Arthur Hayes, co-founder of BitMEX, has announced the launch of a new grant program aimed at Bitcoin developers.
The program aims to support the technical development of Bitcoin, including its resilience, scalability, censorship resistance, and privacy.
Grants offered by Maelstrom range from $50,000 to $150,000 per candidate, distributed over a 12-month period. Payments will be made monthly in BTC, USDC, or USDT. Recipients are expected to contribute to the technical development of Bitcoin through pull requests or code reviews for the Bitcoin Core project.
Maelstrom explained on its website that, like many companies in the sector, it depends indirectly on the work of open-source Bitcoin developers. The fund is therefore eager to give back to the community by supporting Bitcoin technology, which is essential to the crypto ecosystem.
Candidates must submit their applications before August 25, and grants will be awarded in the third or fourth quarter of this year. Interested developers must demonstrate how their work will contribute to the technical development of Bitcoin.
Maelstrom’s venture capital fund, led by Hayes’ family office, invests $100,000 to $250,000 in various emerging DeFi projects. Recent investments include the modular network project Elixir, the synthetic dollar protocol Ethena, and the Bitcoin trading app Bitcoin Oyl. In June, Arthur Hayes joined blockchain data infrastructure startup Covalent as a strategic advisor.
The launch of this grant program by Maelstrom could have a significant impact on the Bitcoin ecosystem. By financially supporting developers, Maelstrom is strengthening the technical foundations of Bitcoin, enhancing its resilience and ability to evolve. This support could also encourage more developers to get involved in open-source projects, accelerating innovation in the crypto space.
