In a groundbreaking move, E Money Network, a modular RWA blockchain based in Bengaluru, India, has recently unveiled their massive $2 million RWA grant program. This initiative is aimed at empowering RWA projects to thrive on their blockchain platform and accelerate the growth of the RWA economy. By providing a solid foundation and a wide array of tools and modules, E Money Network opens up a world of possibilities for developers looking to create innovative RWA-centric applications.
E Money Network functions as an L1 blockchain, offering developers a robust framework to build RWA projects. In addition to a developer-friendly SDK for customized features, the platform provides pre-built modules such as KYC verified onboarding, banking, staking, governance, and more. This allows developers to seamlessly integrate essential functionalities into their applications. Moreover, E Money Network supports interoperability through Inter-Blockchain Communication (IBC), enabling applications to interact with other IBC-compatible blockchains.
One of the standout features of E Money Network is its built-in compliance modules, including Know Your Customer (KYC), Know Your Ownership (KYB), and Know Your Transaction (KYT). These modules are designed to ensure that applications built on the platform adhere to the upcoming Markets in Crypto Assets (MiCA) regulations. By default, every entity and transaction within the E Money Network ecosystem is MiCA compliant, providing a seamless and secure user experience.
As part of the #BUIDLonEMN initiative, E Money Network is calling upon developer teams with disruptive RWA-centric ideas to leverage their platform and bring innovative solutions to life. Interested parties can submit Requests for Proposals (RFPs) outlining their concepts for RWA applications. The $2 million grant pool will be allocated as initial capital to support eligible projects. CEO Raj Bagadi emphasized the importance of fostering the RWA ecosystem and propelling new advancements within the industry through this grant program.
A selection committee comprised of technology experts, marketing professionals, and community members will be responsible for evaluating grant applications. Projects will be assessed based on criteria such as project objectives, anticipated impact, milestones, budget, team details, and product roadmap. Each proposal must include three measurable milestones with key performance indicators (KPIs) to track progress. Depending on the project’s requirements and scale, grants ranging from $5000 to $50000 will be awarded to successful applicants.
In addition to financial support, E Money Network will provide grant winners with access to mentorship from industry experts, legal and compliance assistance, marketing support, networking opportunities with other RWA projects, and collaboration with E Money Network’s core developers. This comprehensive support system aims to guide projects towards success and facilitate their growth within the RWA ecosystem.
Developers and builders interested in participating in the #BUIDLonEMN initiative can submit their grant applications through the designated form on E Money Network’s website. By joining the grant channel on Discord, applicants can stay updated on the evaluation process. Successful projects will receive notification of their acceptance into the grant program, along with further guidance on next steps.
E Money Network stands out as a regulated Modular RWA blockchain, focusing on seamless interoperability between DeFi 2.0 and RWA tokenization. By bridging the liquidity gap between Web 2.0 and Web 3.0, the platform aims to facilitate the evolution of the financial markets through innovative RWA applications. E Money Network’s commitment to fostering a thriving ecosystem for RWA projects sets the stage for transformative developments within the industry.