Grant Cycle 1 Update

We are pleased to announce the allocation of two grants in this Grant Cycle 1:

1.2 Financial Architecture Improvement

Granted to GL TECH S.R.L for a total of 33,000 USDT.
The purpose of this grant is to conduct an in-depth analysis and propose improvements to the Financial Architecture of the Metalswap Protocol. This partnership signifies a significant step towards the evolution of Metalswap, aligning with the goals and objectives outlined in the Grant announcement. Over the coming months, we anticipate comprehensive enhancements across various aspects of the protocol.

1.3 Community Support

Granted to an active member of the community, with the Telegram Handle Telegram: Contact @alessandrodibbe and Discord Username Sephirot92, for a total of 20,000 XMT.
The grant aims to provide support in the Discord and Telegram communities and offer valuable insights for the management of our social support and communication platforms. Over the next months, we look forward to welcoming new members to the Metalswap community.

As for the proposals submitted for 1.1 Hedging Contracts Simulation Tool and 1.4 Ambassador Strategic Program, they were not deemed suitable for the intended purposes and requirements.

Therefore, the Foundation reserves the right to extend these two grant categories for an additional 3 months and may allocate grants before the expiration if a suitable proposal is found. Our analysis of the Financial Architecture Improvement has highlighted the importance of waiting for this study before proceeding operationally with this tool to avoid repeated efforts.

We are pleased to share that we are extremely satisfied with the initial results of Grant Cycle 1. It is our belief that any project with the aspiration for greatness should leverage external resources. These grants provide a remarkable opportunity for the Metalswap community to flourish and expand. We are grateful for this privilege and look forward to the continued success of our community