[PRESS RELEASE – Bengaluru, India, July 3rd, 2024]
E Money Network, a modular RWA blockchain, has launched the biggest RWA grant program in the crypto space, totaling $2 million, to enable RWA projects to build on their blockchain and accelerate the development of the RWA economy.
E Money Network’s Architecture Unlocks a World of Possibilities
E Money Network is an L1 blockchain that acts as a foundational network for building RWA projects. Apart from a developer-friendly SDK for customized features, it also has standard ready-made modules such as KYC verified onboarding, banking, staking, governance and more that can be incorporated directly into applications. The E Money Network supports interoperability with Inter-Blockchain Communication (IBC), allowing the development of applications that can communicate with other IBC-compatible blockchains.
E Money Network has built-in compliance modules including Know Your Customer (KYC), Know Your Ownership (KYB) and Know Your Transaction (KYT) to enable adherence to the upcoming Markets in Crypto Assets (MiCA) regulations. These features ensure that every entity and transaction in an application built on the E Money Network is also MiCA compliant by default.
Objectives of the Grant Program
As a part of its #BUIDLonEMN initiative, E Money Network invites developer teams with disruptive RWA-centric ideas to build on the E Money Network and bring innovative solutions to life. Applicants can submit Requests for Proposals (RFPs) detailing their ideas for RWA applications . Its $2 million grant pool will be distributed as initial capital among eligible projects.
E Money Network’s CEO Raj Bagadi quoted “RWA ecosystem is in its nascent stages, and building the RWA ecosystem with numerable RWA-specific applications will help in shaping E Money Network’s trajectory and spearheading new advancements for the wider RWA ecosystem. Hence, we are launching the biggest grant program to enable the next generation of entrepreneurs seeking to rebuild the financial markets with RWA applications.”
Evaluation Criteria for Winning Grants
A group of technology experts, marketing professionals and experienced community members will form the selection committee for reviewing grant applications. Applications to the grant program will be evaluated on the basis of the following criteria –
The project’s objective and scopeThe anticipated impact of the projectThe project’s milestones and KPIsExpected budgetTeam details including roles, responsibilities and prior experience of each team memberProduct roadmapEach proposal must include at least three milestones with measurable KPIs such as user growth, TVL increase, transaction volume, etc.
Depending on the afore-mentioned factors, projects can become eligible to win grants ranging from $5000 to $50000 based on requirements and scale of the product. Additionally, E Money Network will also provide winners of the grant program access to mentorship from industry experts, legal and compliance support, marketing and growth support, networking opportunities with other RWA projects and E Money Network’s core developers.
How to Apply
Interested developers and builders can join the #BUIDLonEMN initiative by filling out the grant application form here and joining E Money Network’s grant channel on Discord. After the submission of the application, the selection committee will evaluate the project. Successful applications to the grant program will be notified along with further instructions.
About E Money Network
E Money Network is the regulated Modular RWA blockchain. It serves as an L1 blockchain designed for seamless interoperability between DeFi 2.0 and RWA tokenisation, effectively establishing a network that aims to bridge the liquidity divide between Web 2.0 and Web 3.0.
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