String Labs, an autonomous financing project, has recently announced that it is accepting proposals from developers working with Ethereum to apply for Grants Program.

The startup announced the program for open chain finance projects to further support community initiatives. Interested developers could apply for a grant between $2,000 and $10,000.

String Labs CEO Tom Ding made the announcement in an online post. To be eligible for applying for the grant, the developers should note that the project should be open source under MIT or similar licenses and designed to run on Ethereum public chain. In addition, the project should have clear deliverables for the next 6-12 months, along with “strong plus” for projects with existing code or research paper.

Ding clarified that that the grant will not take any equity or commercial interest in the project. He went on to suggest the proposals they are particularly interested in – financial exchange clients, mobile wallet, peer-to-peer DApp store, innovative financial protocols, etc.

“We have a nice office space in Mountain View, California (Silicon Valley) that we encourage grant winners to utilize/co-work with our team with rent covered, but also open to any international applicants”, he added.

The proposals should highlight the project’s goal, scope and advantages over centralized financial application equivalent (if exists). In addition, it should also mention team member’s relevant coding, research experiences and Github repo, as well as communication channels on updates.

“First batch of grants deadline will be Jun 31st, 2016. Each grant will be reviewed and awarded on a rolling basis”, Ding said.

String Labs is focused on building public and open blockchain finance systems/DAOs like global mirror asset system and its yet-to-be announced project on credit system (both runs on Ethereum public chain). While the Grants Program is inviting innovative finance project proposals globally to apply for a grant between $2,000 to $10,000 per project, Ding said that if the project is related to String Labs’ autonomous finance DAO (mirror asset / credit system), future DAO tokens would be considered.