Article Covalent Commits $2.5M in Grant Funding to the Consensys Scale Program for Web3 Dapps


June 13, 2024



Covalent Commits $2.5M in Grant Funding to the Consensys Scale Program for Web3 Dapps

Covalent commits $2.5M in grants to Consensys builders via the Consensys scale program, empowering the next wave of web3 applications on Linea and MetaMask.

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Covalent, a leading modular data infrastructure provider for web3, has committed  $2.5 million in grants to the web3 ecosystem through the Consensys Scale Program. This investment aims to empower developers and builders using Linea and MetaMask to create the next wave of on-chain applications.

Consensys Scale is a 12-month program designed to open Consensys's entire developer ecosystem to the world’s leading web3 ventures. Participants will learn, build, and accelerate with tools like MetaMask, Linea, Infura, and Diligence Fuzzing.

“Consensys Scale supports leading dapps building on Linea and MetaMask with a range of white-glove support and benefits. Ecosystem partners like Covalent are part of this package and make important contributions to our builders,” says Alex Greinacher, Consensys Scale Program Lead.

In parallel, Consensys will make grants directly available to high-performing dapps that choose to deploy on Linea, its L2 zkEVM. 

“Supporting top Linea dapps with impactful partner benefits is a core part of our mission so builders are supported to grow their builders,” says Suzie Godlewski, Lead Partner Marketing for Linea.

Fostering Growth for MetaMask Developer

In the near future, MetaMask will also become much more developer-focused, and Consensys will integrate Covalent into instances where builders also need their API product suite. Grants of up to $25,000 USD in credits per project will be available, providing developers access to Covalent's comprehensive data tools. These credits fetch data from Linea, Ethereum, and over 200 other blockchain networks, enabling a wide range of applications.

“We're thrilled to support Consensys Scale and builders on Linea and MetaMask. This collaboration enhances our reach and empowers developers with robust and scalable access to structured data infrastructure to innovate and optimize their dapps,” said Ganesh Swami, CEO of Covalent.

The grants will target several key areas within Consensys, notably:

  • Building on Linea: Supporting the world’s most innovative Web3 projects to deploy and grow on Linea, the Consensys zkEVM.

  • Access via MetaMask: Integration of the world’s most trusted Web3 wallet into great projects.

Covalent and Consensys are working with builders to enhance on-chain infrastructure and dapps to help onboard the next billion users into web3.

Consensys Scale Program Success Story: Entendre Finance

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An early recipient of the Covalent grants is Entendre Finance, which is revolutionizing Web3 finance with AI-powered accounting to automate digital asset management. They aim to assist L1 and L2 chains in attracting high-volume customers. Entendre Finance received a grant of $15,000 at the beginning of the year to access structured on-chain data for their platform.

Entendre Finance has integrated with over a dozen chains, including Linea, and several accounting software platforms, including Oracle, QuickBooks, and SAP. Entendre Finance has now raised over $4M in seed funding as they leverage being a first mover in AI.

Grant Application and Developer Resources

Projects in the Consensys ecosystem can apply for the Covalent grants. In addition, the following resources provide more details on the grants and other benefits available to Consensys builders:

About Consensys

Consensys is the leading blockchain and web3 software company. Since 2014, Consensys has been at the forefront of innovation, pioneering technological developments within the web3 ecosystem. Through its product suite, including the MetaMask platform,Infura, Linea, Diligence, and our NFT toolkit Phosphor, Consensys has become the trusted collaborator for users, creators, and developers on their path to build and belong in the world they want to see. Whether building a dapp, an NFT collection, a portfolio, or a better future, the instinct to build is universal. Consensys inspires and champions the builder instinct in everyone by making web3 universally easy to use and develop. To explore our products and solutions, visit the Consensys website.

About Covalent

Covalent is the leading modular data infrastructure layer that’s dedicated to solving major challenges in blockchain and AI. Covalent’s largest reservoir of structured, verifiable data augments decentralized training and inference, reducing the likelihood of manipulated or biased AI models. Additionally, Covalent’s Ethereum Wayback Machine ensures decentralized access to Ethereum’s transaction data, keeping it secure. Trusted by over 3,000 leading organizations, Covalent powers AI, DeFi, GameFi, and other use cases with unfettered access to on-chain data from over 225 blockchains and counting.