We’re thrilled to unveil batch 24, which includes 1 grant for a total of $45,000 in funding. You can learn more about each grant below, including details about the specific projects and funding.
Fireblocks Self-Custody Solution
$450,000
Fireblocks
$150,000
$150,000
$150,000
Fireblocks is a major cryptoasset technology provider that empowers institutions, market makers, and large holders of cryptoassets to self-custody and transfer their assets in a secure manner. Osmosis has been working with Fireblocks for the last year with positive reception from investors and market makers. This grant would fund an additional 3 years of access to the Fireblocks platform, allowing institutions to self-custody and transfer OSMO. In exchange for the increased term-structure, Fireblocks has agreed to reduce their annual payment from $250,000 to $150,000 for a total grant of $450,000 over 3 years. Payments will be made annually, and in the event that OGP funding is not renewed during the contract term, OGP has the option to terminate the agreement upon 60 days' notice before making an annual payment. Milestone 1: Service July 01, 2024 - June 30, 2025 / Milestone 2: Service July 01, 2025 - June 30, 2026 / Milestone 3: Service July 01, 2026 - June 30, 2027
Streamlining the process of allowing institutions to safely self-custody their assets is critical to onboarding and maintaining institutional interest in the OSMO token. For regulatory or internal operational security reasons, many funds and market makers cannot interact with cryptoassets without some form of enterprise grade infrastructure, and would likely have to divest their holdings of OSMO without such a service. By ensuring Osmosis maintains a long-term relationship with Fireblocks, this grant will allow Osmosis to retain its network of existing investors and onboard new institutional interest in the coming market cycle.
