Launched with support from Binance Labs, Magic Square introduces a significant initiative: the 120 million $SQR Ecosystem Grant Program. This marks a substantial investment in decentralized applications, aiming to address challenges in user acquisition, engagement, and rewarding experiences within the Web3 space since its inception in 2021.

The grant program allocates 120,000,000 $SQR, equivalent to 12% of the total $SQR supply or $66 million, to assist eligible projects listed on the Magic Square platform. These tokens aim to enhance the initial campaign budgets of selected apps and games, enabling them to reach broader and more targeted audiences. Furthermore, the program is structured to increase rewards for users participating in related campaigns.

Andrey Nayman, Co-Founder and CEO of Magic Square, highlighted the company’s initiative, stating, “Magic Square was founded with the goal of providing equitable opportunities for developers in the Web3 arena…Our grant program is designed to enhance our support and further contribute to the success of our partners.”

Magic Square distinguishes itself by offering free project listings and refraining from commission charges on revenue generated on the platform. This approach champions developers’ work and promotes broader Web3 adoption, ensuring a larger share of profits returns to creators while fostering innovation and activity within the Magic Square ecosystem.