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Conflux Network — China’s State-Endorsed Public, Permissionless Blockchain Project Launches Quarter Billion Grant Program For Innovation

Conflux Network, who claim to be the only state-endorsed public, permissionless blockchain project in China — backed by the likes of Sequoia China, Metastable, Baidu Ventures, F2Pool, Huobi, IMO Ventures, and the Shanghai Municipal Science and Technology Commission has launched its Conflux Ecosystem Grants Program worth some quarter of a billion US dollars to blockchain innovators.

“This grants program serves as our latest initiative to seek out the most innovative developers and projects as we continue to build out our vibrant ecosystem,” said Eden Dhaliwal, Global Managing Director at Conflux Network. “At Conflux, we aim to promote decentralized collaboration that advances blockchain technologies for real-world solutions and encourage any like-minded, open-source projects to participate. Our team is excited to work with some of the most creative minds in the industry.”

The 2.4 billion CFX (approximately $240 million) rolling grants program will fund entrepreneurs, engineers, and evangelists dedicated to advancing innovations in software development and research for the Conflux Network ecosystem.

Project Eligibility

  1. Project work should be in progress and open-source for community use, transparency and for quicker due diligence.
  2. Teams should have experience in delivering blockchain solutions with strong quantifiable track records.
  3. Projects should be working towards tangible outcomes achievable in a set timeframe, preferably 6 months or less.
  4. Projects should disclose what the grant shall be used for with a detailed cost breakdown.
  5. Projects must demonstrate a long term commitment to build and operate the solutions on Conflux Network.

Grant Categories
Tools and Infrastructure

  1. Development tools and infrastructure components that will make the Conflux Network easily accessible and composable.
  2. Development Environments like frameworks, IDEs, and security tools
  3. Blockchain Bridges to other established networks
  4. Oracles for prices, identity, land management, intellectual property
  5. Mobile Development tools like SDKs, Key Management, Wallets, others
  6. Token standards for NFTS, RFTS, fungible token equivalents

Decentralized Applications
DApps to drive user adoption, liquidity, and composability on Conflux Network.

  1. DEXs for Swap/AMM (Automated Market Making), perpetual swap (futures), leverage trading, exotic derivatives (options and synthetic assets)
  2. Token projects like non-USD Stablecoins, Cross-chain BTC, ETH, Gold custodian backed tokens
  3. Payment channel on Conflux with USDT (or other Stablecoins) for micropayments and settlement scenarios like gaming, tipping, gifts, etc.
  4. Identity Solutions like Decentralized ID, user control data exchanges, automated KYC
  5. Lending & Borrowing platforms to give users the ability to lend, borrow and grow their assets

Read the FAQ for more detailed information.

Conflux Network is overseen by a global team of world-class academics and engineers including Dr Andrew Yao, a recipient of the Turing Award, the highest honour in computer science (Nobel Prize of Computing). Three years ago, Dr Yao set out to create an open-source, layer-1 blockchain protocol delivering heightened scalability, ironclad security, and practical, future-proofing extensibility.

This was the origin of the highly anticipated Conflux Network, which has recently gone live with the second of its three-phase mainnet launch strategy. The tiered rollout allows for ample network debugging and stability testing during the early stages. Progressive phases allow participants to gradually build, transact and contribute throughout the network’s developmental and foundational periods, ensuring that all the elements of a robust ecosystem exist by phase three.

The Ecosystem Grants program is designed to radically accelerate the creation and deployment of essential tools and services for the Conflux Network. The grants are geared toward startups creating strategic infrastructure that allows developers to build highly scalable products, including dApps that will drive users and liquidity to the Conflux Network. Funding will be granted to approved projects creating tooling, interoperability bridges, oracle infrastructure, decentralized applications and other vital ecosystem components and will be deployed in waves on a rolling basis to developers from across the globe.

Projects that will be completed in up to two months can apply for Tier 1 funding and will receive up to $15,000 USD in CFX. Projects that will be completed in two to six months can apply for up to $50,000 USD in CFX tokens in Tier 2 funding. This will incentivize existing applications to natively support Conflux Network, providing projects with access to new powerful, decentralized infrastructure, while seeding the ecosystem with enhanced traffic and a broader user base.

Projects are eligible to apply for grants starting on July 21, 2020. To apply for the Conflux Ecosystem Grants Program and learn more about additional eligibility requirements please visit here.

Conflux Network is an open-source, layer-1 blockchain protocol delivering heightened scalability, security, and extensibility for the next generation of open commerce, decentralized applications, financial services, and Web 3.0. Conflux Network is overseen by a global team of world-class engineers and innovative computer scientists, led by Turing Award recipient Dr. Andrew Yao. Fostering entrepreneurship and innovation, Conflux elevates startups and organizations across industries and continents to generate decentralized marketplaces and digital assets for meaningful business and social impact. Founded in 2018, Conflux has raised $35 million in capital from prominent investors including Sequoia China, Metastable, Baidu Ventures, F2Pool, Huobi, IMO Ventures, and the Shanghai Municipal Science and Technology Commission.

China’s Blockchain-based Service Network (BSN) also claims to be China’s only state-backed blockchain, has integrated with six public chains including Tezos, NEO, Nervos, EOS, IRISnet and Ethereum.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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