Cryptocurrency exchange Poloniex owned American startup Circle, opened the cryptocurrency Grin. Simultaneously, the platform made the first contribution to Grin General Fund in the amount of 1.27864 BTC.

Grin withdrawals are now live and we’ve made our first monthly donation—1.27864 BTC—to the @grinMW General Fund. #grin #mimblewimble

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— Poloniex Exchange (@Poloniex) March 15, 2019

Note, in the 12 months Poloniex will allocate a portion of commissions from trading of the Grin team. In the first month the payment was 50% of collected commissions in the future this amount will decrease to 25%.

Funds should go to security audits, bounty campaigns and the development of the Protocol. A year later, the exchange will review the need to support the project.

Recall cryptocurrency Grin is the first and most famous Protocol implementation MimbleWimble. Was its author wished to remain anonymous developer under the pseudonym Ignotus Peverell (the hero’s works of Harry Potter), who published the partial implementation of the Protocol on the Rust language, as well as his vision of the philosophy of the project.

The launch of the core network Grin took place on January 15, and the listing on Poloniex — exactly a month.

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