To successfully receive grant funding, your projects codebase must be open-sourced under an applicable license.

The grant award will be paid in BNC and the BNC awards will be distributed as follows:

• 1/3 of the grant award will be paid at the onset of the grant work.
• 1/3 of the grant will be paid upon milestone completion of the grant (milestones to be set by the applicant team and Bifrost and proof of completion provided and reviewed and approved by Bifrost).
• The remaining 1/3 of the grant will be paid upon the successful completion of the grant work.
• The grants committee may include a bonus related to completing the grant in a timely fashion.

Funding for the ecosystem grant program will come from a portion of the 15,579,700 BNC that has previously been allocated to vToken initiatives. This BNC is currently controlled by the Bifrost Foundation but as the protocol matures, the foundation will hand over control of the remaining BNC to the community. At this point, the ecosystem grants program will most likely form a Bifrost grants DAO and will need to request funding from the community controlled pool of Bifrost. The formation of a Bifrost grants DAO may form prior to this happening as well.