June 5, 2024, Hong Kong, Chainwire
The Web3 Foundation, the entity supporting the growth of the Polkadot ecosystem, has awarded a grant to PolkaPort East. The Decentralized Future (DF) grant is designed to further decentralize the control of Polkadot while driving adoption of the technology, community, and the broader ecosystem.
PolkaPort East is an independent entity responsible for investor relations and growth initiatives, with a focus on Polkadot in Hong Kong and the Greater Bay Area. The DF grant from the Web3 Foundation is the first such award received by an Asian institution.
The grant will support PolkaPort East’s goal of leading investor relations and Polkadot growth in the region. Its mission also includes promoting Polkadot and its technology and serving as a key driver of capital in the region.
Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, said: “The timing of the launch of PolkaPort East is critical for Polkadot. It represents a key step in increasing the decentralization of the network while strengthening the ecosystem’s strategic position in Hong Kong.” Thibault Perréard, Lead Polkadot Parachain Strategy Lead at Bifrost, added: “With the support of the DF grant, PolkaPort East will leverage the thriving innovation hub in Hong Kong and the Greater Bay Area to build relationships with local governments, global enterprises, and capital allocators in the region.”
Vincent Chan, the third co-founder of PolkaPort East and previously responsible for growth initiatives at Parity Technologies, explained that after receiving the DF grant, the initiative will work to attract projects and developers across Asia to participate in the Polkadot ecosystem. These include projects and developers who want to build projects on Polkadot, Polkadot-native venture capital firms, funds and capital allocators, and general web3 investors. It will also target Asian university blockchain groups and associations, fintech companies seeking to enter web3, and local governments exploring the application of blockchain technology.
On behalf of Web3 Foundation, David Hawig, Head of Ecosystem, said: “Web3 Foundation is pleased to support the Polkaport East initiative through the Decentralized Future Grant. This project embodies our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe Polkaport East will play an important role in enhancing connectivity and empowerment of the Hong Kong community, advancing the vision of a truly decentralized internet.”
On the decentralized future
The DF initiative, developed by the Web3 Foundation to launch independent teams and initiatives to drive Polkadot's success, was established in 2023, and Parity Technologies was reorganized to shift investor relations, growth, and marketing responsibilities to focus on technology development.
Through the DF program, funds are available to Polkadot-focused organizations aiming to achieve profitability, as well as to non-profit organizations developing strategies to obtain ongoing financing through Polkadot’s on-chain treasury system. Decentralized Future has allocated an initial $20 million plus 5 million DOT tokens to expand the Polkadot ecosystem.
About PolkaPort East
Hong Kong-based PolkaPort East is an organization that aims to promote the adoption of the Polkadot ecosystem in Asia, with a focus on Hong Kong and the Greater Bay Area. By working with different entities ranging from developers to investors, PolkaPort East will help drive the adoption of web3 technologies and attract new users to Polkadot.
Contact
Thibault PerréardDirector of Polkaport East
[email protected]