COTI and Gitcoin Partner to Deliver $500K in New Grants for Privacy Projects
Tel Aviv, Israel, October 9th, 2024, Chainwire
COTI, the fastest, lightest privacy layer in Web3, has announced the creation of a $500K grants program in collaboration with Gitcoin. The initiative seeks to accelerate development of privacy solutions for the benefit of the wider web3 ecosystem.
The partnership will enable COTI to leverage Gitcoin’s renowned grants management tools and services to onboard a new cohort of experienced web3 developers and privacy projects to COTI’s fast-growing privacy ecosystem. Gitcoin has an unrivaled record for administering grant programs, having distributed more than $60M to developers across thousands of projects since 2017. COTIs grant program aims to gain significant exposure through Gitcoin’s vibrant community.
COTI has implemented a groundbreaking new privacy technology, based on Garbled Circuits. Benchmark studies have shown the technology to be over 1000x faster than alternatives, opening the door for builders to deploy fast and affordable privacy features for the first time. The new grants program will help to foster a new generation of privacy-focused projects and support innovation for the benefit of the broader Web3 space.
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.”
COTI will use Gitcoin’s end-to-end grants solution to create, manage and grow its grants program. Gitcoin provides a transparent framework for issuing grants to eligible developer projects that will enhance the COTI ecosystem and expand privacy use cases across web3.
Earlier this year, COTI announced the largest grants pool for privacy-focused projects in web3 history. The $500K Gitcoin grants program will expand on this while providing a direct way for developers to directly explore COTI’s capabilities. In the process, it will support further innovation in privacy applications covering use cases across the full spectrum of web3 sectors.
Full details on how to apply for a COTI Gitcoin grant will be released soon.
About Gitcoin
Gitcoin’s mission is to help fund what matters across the Ethereum network with a full suite of customizable, on-chain grants solutions. EVM’s leading ecosystems such as Arbitrum, Optimism and the Ethereum Foundation (to name a few) have invested in the Gitcoin Grants Program, with more than $60M of capital disbursed for public goods to date. Gitcoin has since made its technology open source, enabling ecosystems to launch their own funding programs with deep in-built grants expertise.
Gitcoin’s suite of modular apps and novel funding mechanisms are made available through Allo protocol, containing a library of secure, well documented, smart contracts and tooling that can be customized to create the most powerful allocation strategies on the market—including Retroactive Public Goods Funding and Quadratic Funding.
Learn more: https://www.gitcoin.co/
About COTI
The COTI Network is the fastest and lightest confidentiality layer on Ethereum. Powered by the breakthrough cryptographic protocol Garbled Circuits and secured by Ethereum, COTI introduces the most advanced and compliant solution for data protection on the public blockchain. Paving the way for the next wave of Web3 innovation and adoption, COTI unlocks a whole new world of use cases, including confidential transactions, Artificial Intelligence, DeFi, decentralized identification, and more.
Learn more: https://www.coti.io/
