The Web3 Foundation, the organization behind Polkadot, has awarded a Decentralized Futures (DF) grant to PolkaPort East to foster the blockchain network’s expansion in Asia, according to a June 4 statement shared with CryptoSlate.This marks Web3 Foundation’s first DF grant to an Asia-based entity. The grant aims to enhance Polkadot’s decentralization through technical, community, and ecosystem growth.This grant, part of an initial $20 million and 5 million DOT tokens allocated to Decentralized Futures, enables Polkadot to fund both for-profit and non-profit organizations that support its ecosystem.PolkaPort East is an independent entity that would focus on investor and growth relations for Polkadot in Hong Kong and the Greater Bay Area.Although the grant amount remains undisclosed, it will support PolkaPort East’s mission to boost investor relations and growth for Polkadot in the region. The grant will also drive promotion and capital influx for the ecosystem.Max Rebol, PolkaPort East co-founder, emphasized the grant’s crucial timing for Polkadot, seeing it as a significant step towards enhancing the network’s decentralization and presence in Hong Kong.Another co-founder, Thibault Perréard, highlighted that the grant will allow PolkaPort East to leverage Asia’s thriving innovation landscape. He added:“PolkaPort East will be tapping into the thriving innovation hubs of Hong Kong and the Greater Bay Area while engaging and fostering relationships with local governments, global enterprises and capital allocators of the region.”David Hawig, Ecosystem Director at Web3 Foundation, said:“This project exemplifies our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe Polkaport East will play a pivotal role in enhancing connectivity and empowering the community in Hong Kong, driving forward the vision of a truly decentralized internet”Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Follow us on X for your essential dose of daily crypto news and deep dives.US approval of Ethereum ETFs turned investors’ sentiment in ETH positively.Hong Kong’s financial regulator SFC has licensed only 2 crypto exchanges in the region.SEC’s regulatory crackdown influenced ETF issuers to exclude staking from proposals amid compliance concerns.Hong Kong is reportedly considering allowing staking for Ethereum ETFs to boost investor appeal.SubQuery said these RPCs are the first on Substrate-based networks and will be operated by over 30 independent Node Operators.Hydration said the funding will boost the liquidity and efficiency of its single-sided liquidity provisioning platform, Omnipool.Accelerate Polkadot said it wants to provide the de facto answers to Polkadot’s developers questions.The game would be released in 2025 and would further boost Pudgy Penguins popularity within the community.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
