Kraken Exchange to Offer First Grants for Open-Source Ethereum Projects

Kraken is for the first time funding open-source Ethereum projects.

AccessTimeIconDec 3, 2020 at 2:30 p.m. UTC
Updated Sep 14, 2021 at 10:37 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Kraken has announced it will help fund open-source Ethereum projects, a first for the U.S.-based cryptocurrency exchange.

In a blog post Thursday, Kraken said it will collaborate with Gitcoin, an Ethereum-based platform for community fundraising, to reward developers building the blockchain's "most essential software."

The exchange will match up to $150,000 in donations made in Gitcoin’s “Ethereum Infrastructure Tech” category in the eighth round of Gitcoin Grants.

From Dec. 3–18 developers and teams who meet their funding goals via Gitcoin will be eligible to receive a matching grant from the exchange, Kraken said.

Gitcoin maintains an open marketplace to connect developers and donors, while providing opportunities for builders to generate relationships and contribute to projects attempting to advance open-source tech infrastructure.

"Ethereum and DeFi are built on open-source software," said Gitcoin's CEO Kevin Owocki. "With their generous contribution, Kraken is excited to give back to the volunteer developers building the infrastructure of the crypto economy."

Kraken also recently funded Brink, the independent organization for funding Bitcoin’s open-source developer community, providing it with a $150,000 grant last month.

To date, the exchange said it has donated over $500,000 to blockchain projects while helping several full-time developers find full-time employment.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.