• Web3 Foundation awards first DF grant in Asia to PolkaPort East to promote Polkadot’s decentralization.
• PolkaPort East focuses on investment relations and growth for Polkadot in Hong Kong’s Greater Bay Area.

The Web3 Foundation has granted a Decentralized Futures (DF) award to PolkaPort East, marking the first instance of such a grant in Asia. This grant aims to enhance the decentralization of the Polkadot network and to foster its adoption across various sectors including technology, community involvement, and regional development.

Located in Hong Kong, PolkaPort East focuses on leading investment relations and promoting growth for Polkadot within the Greater Bay Area. The funding from the DF grant will support PolkaPort East in its efforts to promote Polkadot technology and to attract capital investments into its ecosystem.

Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, stated that the launch of PolkaPort East is a key step in increasing the decentralization of the network and in strengthening Polkadot’s strategic presence in Hong Kong.

Thibault Perréard, another co-founder who also heads strategy at Bifrost, a leading Polkadot parachain, noted that PolkaPort East plans to engage with innovation hubs in Hong Kong and the Greater Bay Area, as well as with local governments and global businesses.

David Hawig, Director of Ecosystem at the Web3 Foundation, commented on the grant, noting that it represents the Foundation’s dedication to supporting decentralized access and innovation within the Polkadot ecosystem. He expects that PolkaPort East will play a crucial role in enhancing connectivity and supporting the community in Hong Kong, thereby advancing the concept of a decentralized internet.

Vincent Chan, a co-founder of PolkaPort East who previously worked at Parity Technologies, explained that the initiative seeks to attract a wide range of participants to the Polkadot ecosystem in Asia. 

These include blockchain projects, developers, venture capitalists, funds, and general web3 investors. The initiative also targets Asian university blockchain groups, fintech companies entering web3, and local governments exploring blockchain technology applications.

The Decentralized Futures initiative by the Web3 Foundation was established in 2023 after a restructuring of Parity Technologies, which shifted its focus solely to technical development. The DF program offers funding for organizations within the Polkadot ecosystem, including both for-profit and non-profit entities. An initial allocation of $20 million and 5 million DOT tokens supports these efforts.

PolkaPort East is tasked with driving the adoption of Polkadot’s technology and increasing user engagement in Asia, especially in Hong Kong and the Greater Bay Area. By collaborating with a variety of entities, from developers to investors, PolkaPort East aims to facilitate the broader adoption of blockchain technology across multiple sectors.