In a bid to bridge the gap in direct investment and ensure that the ecosystem grows in the coming future, the EOS Network has raised its funding of Pomelo Grants. The news was announced by Pomelo.
Pomelo is a platform that enables its users to raise crowdfunding to support their projects. It is characterized under the category of open source. The platform is funded by the EOS Network Foundation.
More Support To The EOS Network Foundation
Pomelo announced the news, and it took the internet by storm. The entire community got excited by the news. This sentiment was observed in the trading value of EOS. The value stood at $2.59, up by 2.89% in the past seven days. This EOS coin price prediction estimates that the value will touch $3.6 by the end of this year.
The EOS Network community has been longing for funds for the last four years. Now that it has announced the launch of the second season of its fundraising, many community members will finally get the funds they have been seeking to support their projects,
Funds received will help the network to grow its ecosystem and the value on the trading board.
On the eve of Chinese New Year, the platform announced that it would be raising the Pomelo Grants’ Funding to a figure of $888,888.88. This is an increase of 77% from the last season.
An increase in funds denotes that either the members will have to pitch in a higher amount or others will have to come on board to make the contribution.
Whatever the case may be, the excitement level of the community is at its peak, especially of those who have been craving to receive financial support for their projects.
The increase still required clarification at some level. Therefore, Yves La Rose, the Chief Executive Officer of the EOS Network Foundation, left a note saying that the funds were increased due to their constant commitment to support the projects on the EOS network.
An increase of 77% in the current season of Pomelo Grant Funding is expected to fetch the projects a gain of worth $1,777,777.
The EOS stakeholders will also get the advantage for the contribution that they make in their preferred project or projects. All their contributions are estimated to double by the matching pool fund of $888,888.88.
Pomelo’s fundraising initiative primarily serves two purposes, namely short run, and long run.
In the short run, the funds contributed by the members and matched by the Foundation will help the fellow projects to get their fair share. The funds will be used by them to develop their projects.
In the long run, the EOS ecosystem will be in a better position as more development of projects will create an environment for healthy competition among different projects.
