Tezos Foundation Issued $51M in Grants Within the last Six Months to Boost Ecosystem

Tezos Foundation, the Swiss-based non-profit firm fostering the adoption of the Tezos blockchain, disclosed in its latest bi-annual report that it injected at least $51 million into projects being developed within its ecosystem. The report is the first released by the Foundation since last September and provides insight into how the project has matured during that time.

According to the report, grants were issued for 62 new projects across 18 countries. 21 of the projects are benefiting from the Foundation’s grant scheme for the first time, signifying an expansion of the Tezos ecosystem. Beneficiaries include projects and teams working on core development, research and education, infrastructure, and applications such as non-fungible tokens (NFTs).

Alongside updates from the ecosystem, the report all shed light on the Foundation’s financial standing up to January 31, 2021. Since the September update, the value of the Foundation’s assets has increased by more than $400 million, a result of the rally in the price of Bitcoin (BTC) and Tezos (XTZ) over the period.

Further price appreciation since late January means that the Foundation has unarguably gained more on its crypto holdings.

Meanwhile, the Tezos Foundation maintained its ratio of BTC and XTZ holdings at 37% and 35% respectively, with allocation to other assets such as cash, stability fund, and other investments remaining within the same ratio as in September.

Tezos Foundation Holdings (as of Jan. 31, 2021)

Tezos Sees Strong Growth

Branded as a “self-amending protocol,” the last six months have seen Tezos blockchain execute two major upgrades, codenamed Delphi and Edo, with yet another one (Florence) on the horizon. Over the same period, the network has reached record numbers in terms of smart contract calls and deployment, and also shortlisted for a number of central bank digital currency (CBDC) experiments.

XTZ, the project’s native cryptocurrency, has also doubled its price and market cap, hitting a new all-time high of $5.58 in mid-February. At the time of writing, XTZ trades at $4.52 with a $3.4 billion market cap.