The Core Foundation launched the Core Commit Program to incentivize developers to create innovative decentralized applications (dApps) on the Core blockchain. 

The program operates as a Call for Innovation, offering developers an opportunity to engage with the Core ecosystem. Each month, participants can earn rewards based on their code commits and progress in developing their dApps. 

In addition to financial incentives, the program provides access to mentorship, resources, and funding opportunities through Core Ventures, the venture capital arm of the Core Foundation.

Program Overview and Timeline

The Core Commit Program will run for three months, with an application period that started on October 14, 2024. Here's a breakdown of the timeline:

• Application Submission and Review: October 14 - November 14, 2024

• Admissions and Kickoff: November 28, 2024

• Demo Day: End of the three-month program (exact date TBA)

During this period, up to 10 developer teams will be selected to participate. These teams will receive support from the Core Foundation’s Business Development, Developer Relations, and Ventures teams, along with rewards based on their performance.

Application Process and Rewards

Developers interested in participating can apply by selecting from a wishlist of curated project ideas provided by the Core Foundation or proposing their own. 

Selected teams will have the chance to receive up to $2,500 worth of CORE tokens per month, depending on their performance and progress.

In total, $75,000 worth of CORE tokens will be distributed across the three-month program. Each month, $25,000 will be awarded based on the performance of participating projects.

Apart from that, participants will benefit from personalized mentorship from Core Ventures and ecosystem experts. This guidance can help developers refine their products, scale their solutions, and find a product-market fit.

Moreover, by participating, developers can connect with Core contributors and other ecosystem projects through various initiatives, including AMAs and webinars. 

Eligibility Criteria for Rewards

To qualify for rewards, developers must adhere to specific criteria:

• Open-Source Projects: The code must be open-sourced and publicly available on GitHub.

• Detailed Project Plans: Developers must submit execution plans to track their progress.

• Meaningful Code Commits: Code commits must demonstrate significant project advancement. Examples include adding new features, fixing bugs, enhancing security, optimizing performance, or improving user experience.

• Valid Proof of Work: Developers must submit their work through GitHub code commits to prove meaningful progress.

Recent Developments in the Core Ecosystem

This initiative comes in the wake of several recent developments within the Core ecosystem. Switzerland-based Valour has introduced an exchange-traded product (ETP) for Core DAO (CORE), enabling investors to gain exposure to the Core blockchain network. 

Additionally, the Core Foundation unveiled LstBTC, an ERC-20 liquid staking token pegged 1:1 with Bitcoin (BTC) on Sept. 5. This token allows BTC holders to earn staking rewards while maintaining liquidity for use in decentralized finance (DeFi) applications.

Rich Rines, a key contributor to Core DAO, emphasizes that Bitcoin makes up a substantial portion of the crypto market yet remains underrepresented in DeFi.