Latin America Projects To Get Funding On Dedicated Round On Upcoming Gitcoin Grants
Projects and developers in Latin America are the focus in a newly-created round in the 18th edition of grants programme by Gitcoin, who partnered with Meta Pool, a DeFi DAO and 1inch Network, a decentralised exchange, to grow adoption of decentralised protocols in emerging markets.
The grant is in the featured round category where entities external to Gitcoin take responsibility for coordination and implementation of decisions. Latin America-based projects working on the Web3 community and education, Open source software, Ethereum infrastructure and climate change could get grants worth $25000 in DAI.
Meta Pool DAO disclosed that the support for projects comes from protocol fees, which are directly from the treasury of the Ethereum Liquid Stacking platform. Metal Pool will help funding partners connect with grantees to grow awareness and adoption in the Latin American region through workshops and educational content creation.
We understood from the beginning that we wanted to build a protocol that would help everyone learn how to be custodians of the value they created through Decentralized Finance, Meta Pool stated.
Latin America has five countries: Argentina, Brazil, Colombia, Ecuador and Mexico. In a Geography of cryptocurrency report by Chainalysis in 2022, Latin America was ranked seventh largest cryptocurrency market with countries in the region receiving a total of $562.0 billion in crypto from July 2021 to June 2022. The report identified storing value – especially for countries with currencies dwindling in value; sending remittances; seeking alpha as three key use cases driving crypto adoption.
Reactions to the announcement suggest excitement that the Latin America region is getting attention.
This is not the first time countries or specific rounds will run on the platform. Last year, Planker DAO and Scroll committed $50,000 to the Greater China round during Gitcoin Grant 15. Set up to promote collaboration within the Chinese Language-speaking Ethereum community, the Greater China Round had 6,332 donors who raised $44,100 for 48 projects.
The 18th edition since Gitcoin began its grants programme in 2019, Gitcoin grants 18 is expected to hold from mid August and will run on the decentralised grants stack.
