The Web3 Foundation has awarded a Decentralized Futures (DF) grant to PolkaPort East, an independent entity focused on investor relations and growth for Polkadot in Hong Kong. PolkaPort East plans to attract institutional investors, support new teams building on Polkadot, and establish a ‘home base’ for the local Polkadot community in the region.
PolkaPort East Awarded Decentralized Futures Grant
The Web3 Foundation has awarded a Decentralized Futures (DF) grant to PolkaPort East. This grant is the first award of its kind to be awarded to an organization in Asia, and one of its main goals is to further decentralize the Polkadot ecosystem while still promoting its technical and community adoption.
PolkaPort East is an independent entity leading investor relations and growth initiatives for Polkadot centered on Hong Kong and the Greater Bay Area.
The Plan
PolkaPort East has set clear objectives to boost the Polkadot ecosystem in the region by attracting new institutional investors, fostering the development of new teams on Polkadot, and providing a dedicated space for the local community.
With Hong Kong being a hub for family offices and crypto venture capital firms, PolkaPort East wants to engage these stakeholders through various events. This will not only encourage continued investment in Polkadot and its parachains but will also attract new institutional investors to the ecosystem.
To bring new teams into the Polkadot fold, PolkaPort East plans to organize a series of events that are designed to showcase Polkadot’s technical capabilities and facilitate collaboration. By partnering with Parity Asia, these events will act as a gateway for Web3 projects transitioning to Polkadot, and will provide them with the needed support and resources to succeed.
Additionally, PolkaPort East will also establish a physical “home base” for the local Polkadot community. Inspired by the concept of “Polkadot Hubs,” this co-working space will host regular Speaker Series and serve as a central point for local and visiting Web3 developers.
Co-founders Max Rebol, CEO of Harbour Industrial Capital, Thibault Perréard, head of strategy for Bifrost, and Vincent Chan, a former Parity Technologies executive, will lead this initiative.
David Hawig, Director of Ecosystem at Web3 Foundation, is very excited about the potential of the initiative, as he believes it could enhance connectivity and empower the community in Hong Kong. PolkaPort East’s mission aligns with Polkadot’s broader vision of a decentralized internet, fostering innovation and expanding its strategic presence in Asia.
What is the Decentralized Futures Program?
The Decentralized Futures Program is an initiative by the Web3 Foundation that is designed to improve the decentralization and expansion of the Polkadot ecosystem. This program complements the existing Grants Program by focusing on encouraging self-sustaining growth in the Polkadot network.
With a very generous allocation of $20 million USD and 5 million DOT tokens, the program wants to support individuals and teams launching new initiatives that contribute to the ecosystem's vitality.
The Decentralized Futures Program targets both profit-oriented Polkadot-focused organizations and non-profit ventures. However, non-profit ventures still have to demonstrate a viable strategy to secure ongoing financing through Polkadot’s on-chain treasury system beyond 2024.
The Program places a lot of emphasis on the importance of economic independence and active participation. Through funding, advocacy, research, and collaboration, the foundation aims to kickstart economically independent and active contributors, thereby driving forward the vision of a decentralized and robust Polkadot network.
