LONDON (Bywire News) - Bywire is one of six projects to receive $100,000 in funding from the EOS Foundation. The transfer, announced by Yves La Rose, marks the start of an ambitious grant-making project which will see it support innovation across its network.
“Nothing brings me greater satisfaction than being able to deliver upon the #EOSFoundation’s mission of enabling developers, businesses and individuals to build on #EOS!,” he announced on Twitter.
“$600k USD of Recognition Grants are now on their way to six deserving teams.”
The Recognition Grants represent the first wave in support measures to generate activity on the network. They have been awarded to those projects which have already been successful on the network.
As well as Bywire, grants were made to:
- EOS Go: A news source for the EOS network published in English and Chinese.
- Atomic Assets: which generates non-fungible tokens.
- World: a cryptocurrency mascot for an NFT COLLECTION.
- Koreos: One of the first South Korean EOS communities which has served as a valuable gap between East and West by translating EOS content into English.
- EOS Microloan: An ambitious project offering microloans for businesses and consumers.
Further awards will be handed out in categories such as auditors, wallets, tooling, social, gaming, DeFi, and interoperability, covering a total of 34 projects.
Aside from the money which will no doubt come in handy, this announcement is significant for celebrating the best EOS has to offer. There was no application process – the Foundation simply selected the projects it felt deserved recognition.
It also signals to developers that the network – after a number of false starts – looks finally set to fulfil its potential. Ever since it began in 2018 EOS has flattered to deceive. For all the potential, support was all too often lacking.
Some of the community’s brightest lights upped sticks and headed elsewhere. In a surprisingly frank blog post admitted that it was not all that the founders of EOS would have hoped for.
“As it stands, EOS has been a failure of monumental proportions on various levels,” he wrote. “To many, and understandably so, it’s a project they would rather not associate themselves to anymore.”
However, this is the moment they believe will turn things around. Judging by the reaction from the community, that optimism may be fully justified.
“Hahn Ryu, founder of NodeONE Tweeted Great first step moving forward, I'm so happy to see you all's due contribution is finally acknowledged and appreciated. Thank you all for your hard work so far.”
Zack Gall on the Everything EOS Podcast added: “I see the foundation as filling the voice we all expected Block.one to fulfil.”
Our own managing editor Michael O Sullivan added: “The EOS Foundation has demonstrated to the community that the true value of freedom is held in the hands of independence, and never subjection, never dogmatism. By design, independence has been restored, and the EOS community is about to fulfil its outrageous potential.”
For Bywire this is a great moment. Firstly, it’s a recognition of the contribution and success we’ve already made, but most importantly it will transform the company in our efforts to revolutionise the way news is produced online.
(Written by Tom Cropper, edited by Klaudia Fior)