BitMEX co-founder Arthur Hayes recently made headlines with the announcement of the Bitcoin Grant Program through his crypto investment fund, Maelstrom. The main goal of this program is to boost the technical development of the Bitcoin network, focusing on enhancing its resilience, scalability, censorship resistance, and privacy features.
Maelstrom has emphasized its commitment to supporting Bitcoin developers through an open and transparent grant process. The grants offered will range from $50,000 to $150,000 per applicant, distributed monthly over a period of 12 months in either bitcoin (BTC) or stablecoins like Circle’s USDC and Tether’s USDT.
Applicants are encouraged to contribute to Bitcoin’s technical advancement by engaging with Bitcoin Core through pull requests or code reviews. The deadline for submitting applications is August 25, with the grants expected to be distributed in the third or fourth quarter of the year. It is worth noting that grant stacking is allowed, but the total annual amount is capped at $250,000.
The grant review committee includes not only Arthur Hayes but also Jonathan Bier, the Chief Investment Officer of London-based investment company Farside Investors, who will serve as the Grant Program Administrator. Hayes expressed his excitement for the program on Twitter, stating, “As loyal followers of Lord Satoshi, we are doing our part to spread the word.”
In addition to the Bitcoin Grant Program, Maelstrom has made investments in various projects, including Pendle Finance, a protocol that enables users to tokenize and trade future yields. Hayes has shown strong support for Pendle Finance, referring to it as the most crucial derivative exchange.
Furthermore, Maelstrom’s portfolio includes the Bitcoin trading app Oyl and the modular network project Elixir, among others. The fund also serves as a founding advisor to the synthetic dollar protocol Ethena, showcasing its diverse range of investments within the crypto space.
Overall, the launch of the Bitcoin Grant Program reflects Arthur Hayes’ dedication to fostering innovation and technical development within the Bitcoin ecosystem. With a focus on supporting developers and enhancing the network’s capabilities, Maelstrom aims to contribute to the continued growth and advancement of the largest blockchain network in the world.
