Tezos Is Giving Away Grant Money to Crypto Developers

A few short weeks after the beta version of its mainnet went live, Tezos is looking to encourage its community to begin developing on its platform.

The Tezos Foundation announced a new grant-making process Friday, saying it will hold a formal call for proposals in August. In a press release, the foundation explained that it has three initial targeting key areas: research that will extend the Tezos protocol, development of tools that will support Tezos and resolutions to grow the Tezos community.

The foundation hopes to encourage Tezos community members, educational and research institutions and developers to apply for grants, according to the release.

Olaf Carlson-Wee told CoinDesk that funding projects initiated by the community was overdue as far back as February.

Tezos, a blockchain governance protocol, launched the beta version of its blockchain live at the end of June, but is still facing several class-action lawsuits. The foundation also just underwent a shakeup of its governing board following a protracted legal battle between the foundation and the token's developers, Arthur and Kathleen Breitman.

The Swiss-based blockchain project raised more than $232 million for its initial coin offering (ICO), a record-high token sale at the time.

Tezos logo image via Piotr Swat / Shutterstock