TL;DR
- Arthur Hayes has announced a Bitcoin developer grant program through the Maelstrom Fund, offering up to $250,000 per developer.
- The grants will be awarded to promote the technical development of Bitcoin, improving its resilience, scalability, censorship and privacy.
- Developers can apply until August 25, 2024, and grants will be awarded in BTC, USDC, or USDT.
Arthur Hayes, former CEO of BitMEX and current CIO of the Maelstrom fund, has launched a grant program aimed at supporting Bitcoin (BTC) developers.
This program aims to promote the technical development of Bitcoin, improving its resilience, scalability, censorship and privacy.
Announcing the @MaelstromFund #Bitcoin Developer Grant Program. As loyal followers of Lord Satoshi, we are doing our part to spread the word. Please apply on our website, link below, if you would like to submit a proposal.https://t.co/3xOdyrjTzS
— Arthur Hayes (@CryptoHayes) July 17, 2024
The grants, which range from $50,000 to $150,000 per developer, can accumulate to a maximum of $250,000 annually per individual.
The Maelstrom fund acknowledges that Bitcoin, as a fundamental asset in the crypto space, has never raised funds specifically for its technical development, unlike other projects.
Therefore, the Maelstrom initiative seeks to give back and support open source developers working on Bitcoin, an essential technology for the crypto ecosystem.
Applications must be submitted by August 25, 2024, and grants will be issued over 12 months with monthly payments in BTC, USDC, or USDT.
Recipients will be required to contribute to the technical development of Bitcoin, either through pull requests or reviews for the Bitcoin Core software project.
Application and selection process in the Bitcoin Program
The grants will be awarded in the third or fourth quarter of 2024.
During this period, successful applicants will be notified and awarded funding according to the program schedule.
Candidates should expect at least one interview with a review committee member before receiving a grant.
This interview is a crucial part of the selection process, as it allows the committee to assess the candidate’s technical capabilities and commitment to BTC development.
This reference can come from a colleague, supervisor, or anyone else who can attest to the candidate’s skills and work ethic in open source software development.
The review committee includes Arthur Hayes (CIO) and Jonathan Bier (Grants Program Manager).
Both play a critical role in evaluating and selecting candidates, ensuring that recipients are individuals who can meaningfully contribute to the BTC ecosystem.
With this program, Maelstrom hopes to attract and support talented and passionate developers, thereby promoting innovation and continuous improvement of the Bitcoin network.
Additionally, the program also aims to foster the development of Bitcoin-native decentralized finance (BTCFi) and explore new utilities for the world’s most secure blockchain.
Maelstrom believes that by investing in Bitcoin developers, the entire infrastructure of the crypto ecosystem will be strengthened, benefiting all market participants.
