0x (ZRX), an open protocol that facilitates the low-friction, peer-to-peer exchange of ERC-20 tokens on the Ethereum blockchain, has revealed a new accelerator program that will provide $10,000 to $100,000 in non-dilutive capital to develop dapps in the 0x ecosystem.
Come build the next big thing with the @0xProject Ecosystem Acceleration Program! 🚀 We’re providing $10,000-$100,000 in non-dilutive capital to get you launched. Learn more and apply here:https://t.co/9fgWjgA2HM
— Clay Robbins (@crabbylions) December 14, 2018
According to the announcement, the new accelerator program aims to help early-stage projects get off the ground, to invest in tools and programs that support companies building on the 0x ecosystem and to promote technological breakthroughs via research grants.
“The 0x Ecosystem Acceleration Program provides early-stage projects access to technical resources that will help shorten development time, bringing the right products to market sooner,” said Radar Relay CEO Alan Curtis. “With both financial and technical support from the 0x team, the program is a great opportunity for companies interested in making an impact with the 0x protocol.”
The 0x team notes that it has allocated 150 million ZRX tokens to the fund, with plans to distribute over $1 million per year in grants. To date, there have been more than 15 projects accepted into the program.
This news comes a little over a week after 0x launched 0x Instant, a new service that allows users to add seamless crypto purchasing and exchange functionality to any app or website.
Despite the positive news, ZRX is down 9.7% over the last 24 hours to $0.271797, giving the altcoin a $150 million market cap and making it the 35th largest cryptocurrency.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.