The Web3 Foundation, a non-profit organization that supports applications created for software protocols on Polkadot and its canary network Kusama, has made an important announcement. In total, the foundation will provide up to $40 million in incentives to ecosystem developers.

Community control to be enhanced

This incentive program is divided into two, consisting of 20 million Swiss francs (approximately $22 million) and 5 million DOT tokens worth $18.8 million. This support in 2024 will also improve community control over the Polkadot Treasury’s funding mechanism. In the statement made, it was stated that this support will make a significant contribution to the future of Polkadot.

DOT price is at a 3-year low but the number of developers is at ATH!

Polkadot was one of the most negatively affected projects in terms of price from the bear season in cryptocurrencies. The DOT price, which fell below $ 4 this week, thus fell to its lowest level in the last 3 years.

Despite this, the number of active core developers on Polkadot has reached an all-time high.