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Unstoppable Domains, a San Francisco-based company building domains on blockchains, and blockchain platform Zilliqa have launched a $250,000 .zil grant program for wallets and exchanges.
The program will cover upfront costs associated with integrating wallets and exchanges into .zil domain – a new blockchain domain extension launched on the Zilliqa blockchain. Any wallet with a great community, regardless of location, can apply for the grant, which ranges from $5,000 to $15,000.
According to the press release, Equal Tech, a cryptocurrency wallet, and Counter Network, a Singapore-based cryptocurrency exchange, have been selected as the first grantees.
Unstoppable Domains aims to make blockchain domains the new standard for cryptocurrency addresses. By using .zil domains, which went live last month, users would not only be able to receive cryptocurrency to a human-readable name, instead of a long address, but also attach all of their cryptocurrency addresses to a single domain.
This means that when requesting payment, users only need to provide their .zil domain for remittance.
“Imagine if all the major exchanges and wallets supported blockchain domains,” said Matthew Gould, Unstoppable Domain CEO. “This is a standard that any wallet or exchange in the world could adopt. Sending ETH? Send it to my .zil domain. Sending BTC? Send it to my same domain. This is what truly great user experience looks like.”
Han Wen, Zilliqa Head of Grants, said that a key reason for slow blockchain adoption is because blockchains are not user-friendly.
“Replacing cryptocurrency addresses with a human-readable name (hanwen.zil), removes a major hurdle to mass adoption,” he added.
The launch of the grant program follows Unstoppable Domains’ recent $4 million Series A round which was led by venture capital firm Draper Associates.
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