COTI, the lightest and fastest privacy layer in Web3, has announced that it would be partnering with Gitcoin to launch a $500K grants program. The initiative’s goal is to hasten the creation of privacy solutions for the benefit of the larger web3 ecosystem.
Through the collaboration, COTI will be able to take use of Gitcoin’s well-known grants management services and tools to onboard a fresh group of skilled web3 developers and privacy projects into its rapidly expanding privacy ecosystem. As the leading provider of grant programs, Gitcoin has given over $60 million to developers on thousands of projects since 2017. The goal of COTI’s grant program is to significantly increase exposure among the active Gitcoin community.
A revolutionary new privacy solution based on garbled circuits has been implemented by COTI. According to benchmark tests, the technology is over 1000 times quicker than alternatives, allowing builders to implement privacy features quickly and affordably for the first time. A new wave of privacy-focused initiatives will be supported by the new grants program, which will also encourage innovation for the benefit of the larger Web3 ecosystem.
With the support of Ethereum and the ground-breaking cryptographic protocol Garbled Circuits, COTI presents the most sophisticated and compliant acceptable approach to public blockchain data security. COTI opens up a whole new realm of use cases, including decentralized identity, artificial intelligence, decentralized finance, and more, paving the way for the next wave of Web3 innovation and adoption.
COTI CEO Shahaf Bar-Geffen said:
“We are thrilled to partner with Gitcoin and to release a further half a million dollars of funding towards the growth of our ecosystem. Gitcoin is best-in-class for web3 grants management, tools and services and we are excited to present COTI to a new audience of talented builders and further our mission to set new standards for web3 privacy.”
Gitcoin’s end-to-end grants solution will be used by COTI to establish, oversee, and expand its grants program. Gitcoin offers a transparent framework for funding deserving developer initiatives that will improve the COTI ecosystem and increase web3 privacy use cases.
The biggest grants pool for privacy-focused initiatives in web3 history was established by COTI earlier this year. This will be strengthened by the $500K Gitcoin grants program, which will also provide developers a direct avenue for exploring COTI’s potential. In the process, it will encourage further innovation in privacy apps that address use cases across all web3 sectors.
Full information on how to apply for a COTI Gitcoin grants will be available shortly.
Gitcoin’s goal is to provide a comprehensive range of configurable, on-chain grants options to assist in funding important projects across the Ethereum network. The Gitcoin Grants Program has attracted investments from some of EVM’s top ecosystems, like the Ethereum Foundation, Optimism, and Arbitrum, to mention a few. So far, more over $60 million in funding has been distributed for public goods. Gitcoin has since released its infrastructure as open source, allowing communities to start their own financing initiatives with extensive grant experience already built in.
The Allo protocol, which includes a library of secure, thoroughly documented smart contracts and tooling that can be customized to create the most potent allocation strategies on the market—including Retroactive Public Goods Funding and Quadratic Funding—makes Gitcoin’s suite of modular applications and innovative funding mechanisms available.
