This article was first published on 0x Blog - Medium
$10.5M in joint funding allocated to the community-owned 0x DAO
We’re thrilled to announce that the Polygon #DefiForAll Fund has allocated $7M in MATIC to the 0x Community DAO to drive 1M new users onto 0x-powered applications running on the Polygon Network. At 0x Labs, we share the Polygon team’s mission to make DeFi more accessible and cost-effective in order to create a more equitable global financial system. That’s why 0x Labs is contributing another $3.5M in ZRX, meaning the DAO, controlled entirely by ZRX token holders, will have a whopping $10.5M in total funds to grow DeFi and the 0x ecosystem on Polygon.
With 0x API now on Polygon, we anticipate an influx of new DeFi projects onboarding into the 0x ecosystem seeking to combine our deep and easily accessed liquidity with Polygon’s fast and flexible architecture.
While ZRX token holders will ultimately vote on how to use the funding, we envision that it likely will be directed towards Polygon-benefiting initiatives, such as:
- User acquisition campaigns and marketing
- Developer acquisition and support efforts
- Adding NFT support and other token standards
- New token economics and governance designs/proof-of-concepts
- Adding Polygon Network support to apps tracking 0x network activity, such as 0x Tracker
We plan to work with the 0x DAO Bootstrap Delegates on the best way to create transparent accounting, management, and communication around the funding. If you have any ideas on the topic or want to get more involved in 0x governance, please visit the Governance and Research forum.
0x + Polygon partnership to bring 1M new users to 0x-powered apps on the Polygon Network was originally published in 0x Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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0x Blog - Medium