May 15, 2024
min read

MultiversX Foundation Supports the Launch of the xAlliance Community DAO Accelerator

The initiative will catalyze ecosystem growth with $100,000 in initial funding

MultiversX Foundation supports the launch of the xAlliance community program. Designed to accelerate ecosystem growth and empower individuals and projects within the MultiversX community, the initiative will provide resources and opportunities for individuals and projects to thrive within the MultiversX ecosystem.

xAlliance will operate as a community-driven complementary counterpart of the foundation. Through an initial fund of over $100,000, it will offer guidance, specific know-how, connections, grants and bounties in the ecosystem. The main objectives are to incentivize and reward contributions, and support a wide range of activities, from product development and content creation to events.

Use of funds structure components (exemplificative overview for clear interpretation purposes):

  • “Operational” Funding: the success of the initiative will be dependent on the well-functioning of the DAO
    • Leadership: key members transitioning to full time, active involvement, can be eligible for recurrent funding
    • Leadership Support Team: this can go as far as a specialized Dev Rel position and design/marketing help, or simply be a budget to be expendable on necessities that are either outside the leadership’s expertise/skill set or more efficiently handled when outsourced.
    • Expenses: budget for necessary expenses (travel, networking, operational, office, misc)
  • Earning Opportunities: creating a system that goes beyond influencer marketing from within the ecosystem and entices newcomers to enter the ecosystem through contribution, rather than investment (Don’t buy your first EGLD, earn it)
    • Content Bounties: create an “earn” portal where the DAO, the foundation, but also other entities and projects can incentivize content creation, community feedback, and engagement by putting up bounties for multimedia content
    • Scholarships / Stipends: monthly research grants to produce in-depth content on particular aspects relevant to the ecosystem
  • Builder Grants: for exceptional initiatives facilitated by the DAO and potentially funded by the foundation (i.g. up to $10k)
  • Meetup Fund: facilitating local initiatives and ecosystem growth with micro-grants community meetups and local initiatives
    • “Pizza Fund”: micro-grants (i.g. up to $200) for small local meetups that are easy to obtain (for trusted individuals)
    • Local initiatives: funding high-impact local initiatives (panels with business leaders, meetups and conferences, other initiatives that are aimed at onboarding, institutional and enterprise adoption, etc.)
  • Educational Fund: encourage educational outreach of MultiversX and its tech
    • Host technical MultiversX talks at universities or in similar educational contexts
    • Host public events that showcase the MultiversX infrastructure, ecosystem, community, etc.
  • Special Events: larger-scale initiatives with high community impact and the potential to significantly accelerate adoption across different verticals
    • Create community events with significant visibility
    • Innovative ideas and initiatives engaging audiences outside MultiversX or the Web3 ecosystem

"There is immense potential for xAlliance to broaden the ecosystem, solidify the commitment of current community members and incentivize a new wave of active contributors to join in," said Beniamin Mincu, co-founder and CEO of MultiversX. "By increasing the emphasis on community-driven initiatives, we aim to accelerate the already rapid pace of expansion within the MultiversX ecosystem."

A grassroots organization, xAlliance will be shaped by the community itself, with members contributing to and leading its initiatives. The new platform’s mission is to create an environment for builders to experiment and innovate.

xAlliance is about more than just supporting projects within the ecosystem; it's about bringing in new talent”, said xAlliance Lead, Lukas Seel. “We want to attract the brightest minds in Web3 and beyond to explore the opportunities that MultiversX offers to builders and creators.

To complement the efforts of the initiative, MultiversX Foundation will also roll out its ambassador program over the coming weeks, providing community members with additional tools and resources to become advocates for MultiversX and grow into leaders. Through strategic partnerships, community initiatives, and targeted activations, xAlliance aims to unlock the full potential of the MultiversX ecosystem and drive change in the blockchain industry and beyond.

On May 16, starting at 16:00 UTC, Beniamin Mincu and Lukas Seel will join for an X Spaces to present the program and discuss with the community:

Read more about the initiative or get in touch with xAlliance:

About xAlliance:
xAlliance spearheads community growth on MultiversX, fostering a dynamic environment to discover, develop, and deploy exceptional talents in the Web3 ecosystem and beyond by empowering projects and individuals through community grants, earning opportunities, and impactful initiatives.

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Dan Voicu
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Dan Voicu
Published on
May 15, 2024
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