• The Hedera Foundation has launched two pilot Request for Proposals (RFPs) aimed at addressing specific ecosystem needs, inviting global developers to apply for grants.
• The initiative aims to enhance transparency and collaboration, providing up to 10 million HBAR in support, to accelerate the growth and development of the Hedera ecosystem.

On Thursday, July 11, the HBAR Foundation announced its pilot Request for Proposal (RFP) to deliver a more transparent and community-supported element to grant giving. Hedera stated that they are piloting two separate RFPs for building solutions thereby meeting specific ecosystem needs. Besides, this development comes as Hedera has been leading in crypto development activity, per the CNF update.

The Hedera Foundation is launching two pilot RFPs aimed at addressing specific needs within the ecosystem. they have also invited developers from across the globe to apply for these grants, with the selection process incorporating open and public community input.

The goal of this pilot is to gather insights from the initial RFPs to enhance and formalize the foundation’s grant program. This would ultimately accelerate the growth and development of the Hedera ecosystem.

We’re excited to announce the launch of our pilot Request For Proposal (RFP) process to to deliver a more transparent, #Hedera community-supported element to grant giving pic.twitter.com/VNnatTK5GY

— HBAR Foundation (@HBAR_foundation) July 11, 2024

Hedera Targets Lending Markets With RFP Pilots

The pilot initiative will include two distinct RFPs designed to meet specific requirements:

1. Credit Market Development: This grant will follow the structure of a standard THF development grant, with funding allocated based on the completion of well-defined development milestones.
2. Credit Market Liquidity: This grant will be modeled after a network utilization incentive pool. The incentive pool will be evergreen and may be replenished based on ecosystem needs.

The Foundation is initially committing up to 10 million HBAR in support, available to eligible teams. Given the evergreen nature of the pool, project teams can apply multiple times depending on their liquidity needs. Each proposal must align with specific growth objectives, and applicants are required to outline milestones and goal KPIs. The Hedera Foundation also mentioned some of the benefits of conducting the pilot which include:

• Increased Transparency and Clarity: By clearly outlining funding intentions, the Hedera Foundation (THF) can provide more timely updates to the community about key priorities. This approach offers further clarity to teams who may not qualify for a grant, not due to inadequacy but because their proposals might not align with the network’s most pressing needs.
• Enhanced Ecosystem Collaboration and Diversification of Ideas: By inviting broader participation, THF aims to foster greater collaboration between itself, applicants, and the community, all working together to find better solutions. Additionally, creating more opportunities for builders to share their visions, ideas, and educational insights directly with the community before launching products or platforms will add significant value throughout the development cycle.

Moreover, the Hedera blockchain has been part of some key projects. As reported by Crypto News Flash, Sweden’s central bank tested its retail banking solutions on the Hedera network. Additionally, consulting giant Deloitte also joined hands with Hedera to build next-generation blockchain solutions, per the CNF update.

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