Introducing the Vite Ecosystem Fund
This post was originally published on Vitelabs
To incentivize more projects to be built on the Vite ecosystem, Vite Labs foundation has set aside 70 million VITE as the Vite Ecosystem Fund. This fund will be utilized through programs such as Vuilder DAO, Hackathons, ViteX Gateway Incentive Plan, SBP DAO program, etc. These programs aim at introducing and empowering more builders to contribute to a vibrant growing Vite ecosystem.
What types of projects can be funded?
We categorize the projects into the following types:
The Vite infrastructure includes 3 components: the Vite public blockchain, ViteX Decentralized Exchange and ViteBridge. While Vite Labs is the primary driving force behind the development on the infrastructure level, we also welcome builders to participate. Our current priorities include
- Upgrading Solidity++ so the language becomes more powerful and more developer-friendly
- Creation of tools for easier testing and debugging
- Integration with more chains for ViteBridge
- Thorough testing of bridges on the Testnet for deployment on Mainnet
- Refactoring of ViteX for easier third-party deployment of new DEX based on ViteX infrastructure
- DApps & Tools
To serve the world’s decentralized economy, we need more and more applications built on Vite targeting a variety of real world use cases. Two major sub-categories are Decentralized Finance and web3.
Decentralized Finance such as stable coins and lending protocols are extremely beneficial for users to engage with the new economic model. It increases the utility of the tokens as well as the projects that they represent.
Web3 tools primarily serve the new decentralized communities. These communities are more than just a Discord or Telegram group. The web3 paradigm requires tools for on-chain treasury management, voting, token gating, etc. Through new primitives such as DAOs, NFTs and smart contracts, these tools will empower the Vite ecosystem communities and increase membership engagement as well.
We have seen many engaging communities springing up in the Vite ecosystem. Going forward, we would love to see more diverse communities built on Vite. There is no one-size-fits-all when it comes to community building. Our rule of thumb is to focus on the projects that make an active push to convert more outsiders into part of the Vite Fleet.
The Vite Ecosystem Fund Address
All such funding will be coming out of the following Vite Ecosystem Fund address
How to participate?
Hackathons and Bounties
Vite Labs hosts a quarterly hackathon in collaboration with Gitcoin and on a regular basis, we also publish stand alone bounties on Gitcoin.
A DAO for all the builders on Vite. Vuilder DAO publishes bounties on Gitcoin under the Vite Labs page. The more one builds, the more $VUILD token one gets.
ViteX Gateway Incentive Plan
The purpose of this incentive plan is to increase user participation and the degree of decentralization on the ViteX exchange.
We incentivize projects and communities to be built on Vite by providing SBP sponsorship.
In addition to these programs, Vite Labs will also provide grant funding on a case-by-case basis.
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ViteX Official: https://vitex.net/
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