Share this article
Nervos Network Will Hand Out $30M to Encourage Third-Party Development
The grant fund will pay developers in cash, rather than equity or tokens, and submitted projects will be made public to source feedback from the Nervos community.
By David Pan
Updated Sep 13, 2021, 12:07 p.m. Published Jan 9, 2020, 12:00 p.m.
Make us preferred on Google
Nervos Network has set up a $30 million public grant fund to sponsor external developers building on its blockchain infrastructure.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Announced Thursday, the fund will pay developers in the combination of cash and CKByte tokens, and all submitted projects will be made public to source feedback from the broader community, Nervos co-founder Kevin Wang told CoinDesk.
Individuals, teams and companies can begin submitting applications for improving the firm’s layer one blockchain Common Knowledge Base (CKB).
“We hope applicants can help find ways to make our infrastructure more user-friendly,” Wang said. “We will be more interested in potential applications on top of our blockchain over time.”
The company plans to look at the applicants’ backgrounds as well as the proposals themselves. Wang said the review process will also include examining the resources and groups behind the applicants.
Grants will be Initially awarded to proposals focused on infrastructure developments such as client protocols, development environment, cross-chain interoperability, smart contract language and tooling, the firm said.
As Nervos begins building the foundation of its permissionless two-layer blockchain network, the firm tried to assemble a tool kit that developers can use to program and build applications on the platform, according to a release.
As one of the earliest blockchain adopters in China, Nervos has raised over $100 million and partnered with some of the largest state-owned companies in the country. It has been working with China Merchants Bank International on decentralized finance applications.
In November, the project launched its mainnet Lina and completed its $72 million token sale on Coinlist in the same month. It has previously secured $28 million in Series A funding in a round led by Polychain and private equity giant Sequoia China.Nervos will use 23.5 percent of the initial token supply to encourage open-source contributions and business partnerships, according to its token’s public offering document.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
