A blockchain project aiming to decentralize social network and web application development has decided to allocate $200,000 for its top participants.

Synereo, as the project is titled, has called for signups from “decentralizers”, a term it uses for developers, entrepreneurs and curators passionate about decentralized economy systems. The Tel Aviv-based company aims to analyze these signups-cum-CVs, and select blockchain industry’s best minds to create decentralized applications — known as dApps — on the Synereo ecosystem. It stated:

“From among the applicants, we will select the best 3 developers/teams that wish to create dApps. The fund will also be given to the 3 developers/teams that want to develop the open-source platform, as well as to 3-8 curators who will help Synereo decide how to allocate the grant money.”

“The purpose of on-boarding curators,” the company added, “is to decentralize the grant giving mechanism. Curators will allow Synereo to scale the operation, and help democratize the grant-awarding process.”

Synereo lately has garnered attention for its claims of developing the internet’s first decentralized social network, where no centralize authority would have control over users’ content and personal information. The project, which was in development stage for the last two years, further aims to bring which it calls an “attention economy”, where users would be rightfully compensated for contributing power and storage in the running of Synereo’s blockchain ecosystem.

The social network for the project is moving into alpha phase this September.

Synereo, in July, had raised around $126,000 from the crowdsale of its native cryptocurrency AMP. It now plans to launch a second fundraising campaign on BnktotheFuture.com and they just announced the pre-sale through their website. followed by a separate public sale of AMPs and equity offering. To fund Project 11, as the dApp development project is called, Synereo is cycling funds from its own bounty wallet, as well as external sources.

The company concluded by saying:

“Remember: each new dApp on the Synereo ecosystem means more functionality and more users in the decentralized economy, creating value for all participants.”

Interested decentralizers are requested to to submit their application by September 6th 2016. You can read more about the Synereo tech stack on their site.