The Masverse Grant Programme aims to support innovative projects that leverage MasChain, our Layer 1 public permissioned blockchain, to expand the possibilities of blockchain technology and promote the Web3 ecosystem across various critical sectors. The following outlines the terms and conditions for the applicant’s participation in the Masverse Grant Programme. By applying for the grant, applicants hereby agree to abide by these terms and conditions.
Applicants: The grant is open to individuals, startups, and established companies.
Project Scope: Projects must demonstrate a clear plan to utilise MasChain technology effectively, including:-
a) Project Description and objectives.
b) Technical architecture and requirements.
c) Expected impact and outcomes within the MasChain ecosystem.
d) Timeline and milestones.
e) Team background and experience.
Compliance: Applicants must comply with all relevant local and international laws and regulations in relation to blockchain.
Eligibility Criteria and Project Scope might change time to time. Applicants should refer to the MasChain website, time to time for any updates or changes.
Submission: All applications must be submitted through the MasChain website. Incomplete applications will not be considered.
Evaluation: Applications will be evaluated based on innovation, feasibility, impact, and alignment with MasChain technology.
Interviews: Shortlisted candidates may be required to participate in interviews or provide additional information.
One or more of these conditions may apply.
Equity Stake: Masverse will acquire stake in the company receiving the grant (“Grantee”). The specific percentage will be negotiated on a case-by-case basis.
Profit Sharing: The Grantees agree to a profit-sharing arrangement, where a percentage of the profits generated from the project will be shared with Masverse. The profit-sharing terms will be determined during the negotiation phase and captured in separate agreement.
Project Implementation: The Grantees agree to fully implement their project on MasChain and demonstrate its utilisation within a stipulated timeframe.
Reporting: Regular progress reports must be submitted to Masverse. Reports should detail project milestones, utilisation of MasChain, and financial performance of the Grantees.
Performance Review: Masverse reserves the right to conduct periodic performance reviews. Failure to meet agreed milestones and performances may result in the termination of the grant which may result in forfeiture of the remaining funds.
Grant Disbursement: Funds will be disbursed in stages, tied to the achievement of specific milestones or performances as mutually agreed.
Form of Grant: The grant can be provided in monetary form, MasChain credit, reimbursement
- or a combination. The form of the grant will be decided upon during the discussion
- and negotiation phase with the Grantees.
Expenditure Reporting: The Grantees must provide detailed expenditure reports to ensure funds are used appropriately and effectively.
Audit Rights: Masverse reserves the right to audit the financial records of the Grantees (to ensure compliance with grant terms.
Ownership: Intellectual property (IP) developed through the grant will remain with the Grantee, but Masverse will have non-exclusive rights to use the IP for promotional and educational purposes.
IP Protection: Grantees must take appropriate steps to protect their IP and comply with relevant IP laws.
Breach of Terms: Failure to comply with these terms and conditions may result in termination of the grant and recovery of disbursed funds.
Voluntary Termination: Grantees may terminate their participation in the programme by providing written notice. However, any equity stake or profit-sharing arrangements will remain in effect.
Modification of Terms: Masverse reserves the right to modify these terms and conditions at any time. Grantees will be notified of any changes in writing.
Governing Law: These terms and conditions shall be governed by and construed in accordance with the laws of the jurisdiction where Masverse is headquartered.
For any queries or further information, please get in touch with us at:
Email: official@masverse.com
Address: [Masverse Puchong]
By applying for and accepting the Masverse Grant, applicants acknowledge that they have read, understood, and agreed to these terms and conditions.
"Terms and Conditions apply. Please visit our website for the most current and detailed terms and conditions."
