The Core Foundation launched the Core Commit Program to encourage developers to create innovative decentralized applications (dApps) on the Core blockchain.
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Core Foundation Launches ‘Core Commit Program’ Offering Developer Funding and Access to Over 100 Venture Capital Funds
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… pic.twitter.com/TtORsE1eMV
– Core Builders (@corechain_devs) October 14, 2024
The program acts as a call to innovation and offers developers a unique opportunity to participate in the Core ecosystem. Each month, participants can earn rewards based on their code commitments and progress in developing their dApps.
In addition to financial incentives, the program provides access to mentorship, resources and financing opportunities through Core Ventures, the venture capital arm of the Core Foundation.
Program overview and timeline
The Core Commit Program lasts three months, with an application period beginning on October 14, 2024. Here’s an overview of the timeline:
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Submission and assessment of applications: October 14 – November 14, 2024
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Entrance and kick-off: November 28, 2024
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Demo day: End of the three-month program (exact date to follow)
During this period, up to 10 developer teams will be selected to participate. These teams will receive support from the Core Foundation’s Business Development, Developer Relations and Ventures teams, along with rewards based on their performance.
Application process and rewards
Developers interested in participating can sign up by selecting a wishlist of curated project ideas from the Core Foundation or suggesting their own ideas.
Selected teams will have the opportunity to receive up to $2,500 in CORE tokens per month, depending on their performance and progress.
A total of $75,000 worth of CORE tokens will be distributed over the three-month program. $25,000 will be awarded each month based on the performance of participating projects.
In addition, participants will benefit from personal mentorship from Core Ventures and ecosystem experts. This guidance can help developers refine their products, scale their solutions, and find product-market fit.
Additionally, by participating, developers can connect with core contributors and other ecosystem projects through various initiatives including AMAs and webinars.
Reward Eligibility Criteria
To be eligible for rewards, developers must meet specific criteria:
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Open source projects: The code must be open source and publicly available on GitHub.
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Detailed project plans: Developers must submit implementation plans to track their progress.
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Meaningful code commits: Code commits must demonstrate significant project progress. Examples include adding new features, fixing bugs, improving security, optimizing performance, or improving the user experience.
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Valid proof of employment: Developers must submit their work via GitHub code commits to prove meaningful progress.
Recent developments in the core ecosystem
This initiative comes in the wake of several recent developments within the Core ecosystem. Switzerland-based Valor has launched an exchange traded product (ETP) for Core DAO (CORE), allowing investors to gain exposure to the Core blockchain network.
Additionally, on September 5, the Core Foundation unveiled LstBTC, an ERC-20 liquid staking token that is pegged 1:1 to Bitcoin (BTC). This token allows BTC holders to earn staking rewards while maintaining liquidity for use in decentralized finance (DeFi) applications. .
Rich Rines, a key contributor to Core DAO, highlights that Bitcoin makes up a substantial part of the crypto market, but is still underrepresented in DeFi.
