In a groundbreaking move, E Money Network, a modular RWA blockchain based in Bengaluru, India, has announced the launch of the largest RWA grant program in the crypto space. With a total funding of $2 million, the program aims to support RWA projects and accelerate the development of the RWA economy.
E Money Network functions as an L1 blockchain that provides a solid foundation for the development of RWA projects. One of its key features is a developer-friendly SDK that allows for the customization of features. Additionally, it offers ready-made modules such as KYC verified onboarding, banking, staking, governance, and more that can be easily integrated into applications. The network also supports interoperability through Inter-Blockchain Communication (IBC), enabling seamless communication with other IBC-compatible blockchains.
E Money Network has incorporated built-in compliance modules, including Know Your Customer (KYC), Know Your Ownership (KYB), and Know Your Transaction (KYT), to ensure adherence to upcoming regulations such as Markets in Crypto Assets (MiCA). These features guarantee that every entity and transaction within applications built on the network are compliant by default.
The #BUIDLonEMN initiative invites developer teams with innovative RWA-centric ideas to build on E Money Network. Applicants are required to submit Requests for Proposals (RFPs) outlining their project ideas, with the $2 million grant pool being allocated as initial capital to eligible projects. The CEO of E Money Network, Raj Bagadi, emphasized the importance of building a strong RWA ecosystem with numerous applications to drive advancements in the wider RWA ecosystem.
A selection committee comprising technology experts, marketing professionals, and community members will evaluate grant applications based on several criteria. These include the project’s objectives, anticipated impact, milestones, budget, team details, and product roadmap. Proposals must include at least three milestones with measurable KPIs, such as user growth and transaction volume, to be considered for grants ranging from $5000 to $50000.
Developers and builders interested in the grant program can apply by filling out the grant application form and joining E Money Network’s grant channel on Discord. The selection committee will review the applications and notify successful candidates along with further instructions for the next steps.
In addition to financial support, grant program winners will gain access to mentorship from industry experts, legal and compliance assistance, marketing and growth support, and networking opportunities with other RWA projects and E Money Network core developers. This comprehensive support aims to help projects succeed and contribute to the growth of the RWA ecosystem.
E Money Network is a regulated modular RWA blockchain designed to facilitate interoperability between DeFi 2.0 and RWA tokenization. By bridging the liquidity gap between Web 2.0 and Web 3.0, the network aims to drive innovation and advancement in the RWA space.