British Virgin Islands, November 2024 — Astrovault, the first multichain value capture decentralized exchange, has unveiled a grant program to bolster developers working on applications and communities in the decentralized finance (DeFi) ecosystem. The first grantee, pampit.fun, was awarded $40,000 to advance its token-launch platform. With a total of $1 million in grants available, the program aims to foster innovation within the decentralized finance (DeFi) space.
As competition among crypto projects intensifies, the venture capital landscape is shifting. While VC funding can be critical for a project to scale operations and expand market reach, it comes with expectations of outside control that some projects may be unwilling to accept. As an alternative funding route, grants offer developers a valuable mechanism to secure capital for their projects without relinquishing ownership or facing the constraints often imposed by investors.
As a DEX, Astrovault provides a zero-leverage, profitable foundation for projects to safely and securely build their businesses through the grant initiative. Over the next year, Astrovault will vet projects based on specific criteria, focusing on decentralized projects that need on-chain payrails, and those emphasizing arbitrage and advanced trading methods.
The grant scheme marks the first external collaboration built on top of Astrovault, aimed at expanding the platform’s capabilities by leveraging expertise from partners in the field. In addition to monetary support, grant recipients will receive mentorship, access to networking opportunities, and resources to help elevate their projects.
“Grants are designed specifically to lower the entry barrier for startups by providing them the opportunity to explore their ideas without the immediate pressure of profitability,” says Eric Waisanen, CEO and Co-Founder of Astrovault. “We have taken the time to assign a distinct set of criteria and goals for this initiative, ensuring each project aligns with our broader goals. By supporting diverse ideas and approaches in this growing space, we aim to create a colorful ecosystem that pushes the boundaries of what is possible in crypto.”
