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Cryptocurrency News Articles
Core Foundation Launches ‘Core Commit Program’ Offering Devs Funding and Access to 100+ VCs
Oct 15, 2024 at 03:51 pm
The Core Foundation has announced the Core Commit Program, an initiative to support and incentivize developers building on #Core.
The Core Foundation has announced the Core Commit Program, an initiative to support and incentivize developers building on #Core. Whether you're an experienced developer or just starting out, this program offers an incredible opportunity to contribute to the next-gen blockchain and earn rewards along the way!
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The Core Commit Program is a Call for Innovation, inviting developers to engage with the Core ecosystem in a meaningful way. Each month, participants will have the chance to earn rewards based on their code commits and progress in developing their decentralized applications (dApps).
In addition to financial incentives, the program provides access to mentorship, resources, and funding opportunities through Core Ventures, the venture capital arm of the Core Foundation. Here's a closer look at the program overview and timeline:
The Core Commit Program will span three months, with applications opening on October 14, 2024. Here's a breakdown of the key dates:
1. Applications: October 14 - November 14, 2024
2. Admissions and Kickoff: November 28, 2024
3. Demo Day: End of the three-month program (exact date to be announced)
During this period, up to 10 developer teams will be selected to participate and will receive support from the Core Foundation’s Business Development, Developer Relations, and Ventures teams, along with rewards based on their performance.
Developers interested in participating can apply by selecting from a wishlist of curated project ideas provided by the Core Foundation or proposing their own. Selected teams will have the chance to receive up to $2,500 worth of CORE tokens per month, depending on their performance and progress in developing their dApps.
In total, $75,000 worth of CORE tokens will be distributed across the three-month program. Each month, $25,000 will be awarded based on the performance of the participating projects.
Apart from financial incentives, participants will benefit from personalized mentorship from Core Ventures and ecosystem experts. This guidance can help developers refine their products, scale their solutions, and find a product-market fit.
Furthermore, by participating, developers can connect with Core contributors and other ecosystem projects through various initiatives, including AMAs and webinars.
To qualify for rewards, developers must adhere to specific criteria:
1. Open-Source Projects: The code must be open-sourced and publicly available on GitHub.
2. Detailed Project Plans: Developers must submit execution plans to track their progress.
3. Meaningful Code Commits: Code commits must demonstrate significant project advancement. Examples include adding new features, fixing bugs, enhancing security, optimizing performance, or improving user experience.
4. Valid Proof of Work: Developers must submit their work through GitHub code commits to prove meaningful progress.
This initiative follows several recent developments within the Core ecosystem. Switzerland-based Valour has introduced an exchange-traded product (ETP) for Core DAO (CORE), enabling investors to gain exposure to the Core blockchain network.
Moreover, the Core Foundation unveiled LstBTC, an ERC-20 liquid staking token pegged 1:1 with Bitcoin (BTC) on Sep. 5. This token allows BTC holders to earn staking rewards while maintaining liquidity for use in decentralized finance (DeFi) applications.
As a key contributor to Core DAO, Rich Rines highlights that Bitcoin comprises a substantial portion of the crypto market but is still underrepresented in DeFi.
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