According to String Labs’ website, the organization focuses on the mass market, with projects including systems that support decentralized lending, savings accounts with interest, stable currency and synthetic mirrors of common assets.
“We are committed to the development of open financial systems that are owned and controlled by the world,” says the website. “Each AF (autonomous finance) project will materialize as a DAO (decentralized autonomous organization) that the community owns and controls via voting tokens after a crowdsale.”
String Labs is welcoming innovative financial project proposals from around the world to apply for a grant between $2,000 and $10,000 per initiative. Moreover, if the project is directly related to the organization’s autonomous finance DAO (mirror asset/credit system), future DAO tokens would be considered.
To be eligible for a grant, projects should be open source under MIT or similar licenses, and designed to run on the Ethereum public chain. They should also have clear deliverables for the next six to 12 months, with strong consideration given to initiatives with existing code or a research paper. Examples of proposals String Labs are interested in include financial exchange clients, mobile wallets, P2P dapp stores and innovate financial protocols. The organization said the grant will not take any equity or commercial interest in proposed projects.
String Labs encourages grant winners to use and co-work with its team in its office space in Mountain View, California, and the space is also open to any international applicants.
Interested parties can submit their proposals by e-mail to [email protected]. String Labs will welcome the first batch of grant proposals until the end of June. Each grant will be reviewed and distributed on a rolling basis.
Image via Assets page of Ethereum’s website