The Bahamut Foundation Grants Program provides milestone-based support and funding to organizations that aim to decentralize, grow, and support the Bahamut network, and advocate the world of web3.
Application Process and Requirements
Bahamut is a public, permissionless, open-source blockchain, looking to bring the new era of the internet to the masses. Bahamut utilizes a new type of consensus mechanism - Proof of Stake and Activity - which takes into account the gas usage of a validator-deployed smart contract when distributing the chance to become a block producer in a future epoch, resulting in substantially larger network rewards for those validators.
The PoSA consensus was built with the mass adoption of Web3 in mind, providing individuals and businesses with a resource of value that can be utilized regardless of industry.
Like the mythical creature Bahamut that carries the world on its back, Bahamut Foundation is looking to become a pillar in the future of the internet and provide a suitable environment for projects to build and thrive in, while working towards a common goal.
In the same spirit, the Bahamut Foundation is looking to support projects that follow the same passion, generate value for their users, bring new users into the world of Web3, and lay strong foundations for others to learn from and build upon.
Anyone is welcome to apply for a grant including individuals, businesses, governments, non-profits, academics, researchers, and universities.
We recommend to start by viewing the Priority List of Funding Initiatives first. This list is comprised and updated by the Bahamut Foundation and represents spheres, areas, or DApps that the Foundation is currently interested in funding based on the needs of the network and its infrastructure.
However, this doesn't mean that you shouldn't apply for a grant if your project doesn't fall under any of the Priority categories, since those are but a fraction of all the ideas that lead towards the greater goal of mass adoption of Web3.
Priority List of Funding Initiatives
Below is the current Priority List that Bahamut Foundation is interested in funding.
Bridges are an essential aspect of any robust blockchain network. A safe, reliable, and cost-efficient process of cross-chain transfer of assets is currently our highest priority.
Decentralized exchanges are one of the pillars of a successful blockchain network.
Multisignature wallets serve as an essential means of control, security, and sustainability in various organizations.
Blockchain-based RNG serves as a decentralized, trustless source of random number generation in various applications and industries.
To apply for a grant, the applicants must be ready to provide the following information:
First and Last name
Official email address
Category (DeFi, Infrastructure, Gaming/NFT, DAO/DAO Tooling, Miscellaneous)
One paragraph summary
Team description / Co-Founders
Lead Investors / Other Investors
Post-Money Valuation / Fully Diluted Valuation of Each Round
Location of founding/base team
When submitting your application, be sure to specify why and how will it benefit the Bahamut network (e.g. Improve security, increase decentralization, improve infrastructure, open-sourced project, etc.)
If you're looking to apply for a large grant ($50,000-$100,000 and above) the process will be milestone-based. Suggesting project funding milestones is highly recommended.
The Foundation team will review all applications as they come in, and contact applicants if more details are required, or set up a call to discuss certain aspects of the project. After the discussion, the Foundation team may propose ideas, changes, or improvements after careful consideration.
The typical response time is within 2 weeks.
All applicants will be notified via email regardless of whether they were chosen for a grant or declined.
Bahamut Foundation welcomes all ideas connected to PoSA, Decentralization, and mass adoption of Web3. However, there is a list of criteria that all projects must comply with, in order to become eligible for a Foundation Grant. Here is the complete list:
- Validator Set up - All grant receivers must set up and maintain an independent validator node and link their smart contract to generate activity based on gas spent. The stake amount will be provided to the applicant in case of being chosen for a grant, in addition to the grant amount.
- Open-Source Project - All projects should be open-sourced and verified, allowing everyone to see and learn from them.
- Value - There must be a clear value proposition for your project and either the Bahamut network, the infrastructure, or its users.
- Execution - Proof that you and your team have the ability, skills, knowledge, and expertise to bring your ideas to fruition.
- Clear Use of Funds - We urge applicants to be thoughtful and have a clear plan on fund usage, and how much they will be requesting.
Grants are not to be considered as:
Personal Business Accelerator - Anyone is welcome to start their business on Bahamut. We would love to see organizations and individuals thrive with the help of PoSA. However, such projects typically do not carry large-scale value and will be excluded from the Grant Program.
Venture Capital - We currently do not offer grants as venture funding since these grants aim to improve the Bahamut ecosystem and enable projects that hold value to users to bring their ideas to life.
Apply for Bahamut Grant
Apply for a Bahamut Grant and let’s shape the future of the internet together!