The Kraken cryptocurrency exchange appear that it would match $150,000 in donations to support open-source Ethereum projects on Gitcoin.

Gitcoin is a developer-funding platform relying on a hybrid model of sponsored donations and direct community support. Through its quadratic funding model, community donations are used as guidance to identify the projects that should receive the most matched funding. The quadratic formula ensures that separate contributions are weighted more than a single big donation. For example, ii people altruistic one Dai will outcome in a much higher match than only one person sending 2 Dai.

Kraken'southward participation comes equally Gitcoin launches its eighth Gitcoin Grants round, or GR8. The total matching pool amounts to $1 million, with other funding partners including Binance, Synthetix, the Ethereum Foundation and others.

Only projects in the "Ethereum Infrastructure Tech" category will be eligible for Kraken's pool. These include many client teams, wallet technologies and other core infrastructure projects. The distinction was likely introduced because Gitcoin grants tin also exist given to content creators or decentralized application projects, which would fall outside of Kraken'due south stated mission of "empowering volunteer developers and projects that move the manufacture forward."

The company was previously involved with straight grants to Bitcoin developers and Bitcoin infrastructure companies, having pledged $500,000 so far. The funding of Ethereum infrastructure is a first for the exchange, which it says was spurred by the network's increasing maturity.

The Gitcoin Grants Round will continue accepting donations until Dec. 17, after which the grants distribution will accept place according to the matching formula.