Upbit, South Korea's leading cryptocurrency exchange, has launched GASOK (GIWA Accelerator for Sustainable On-chain Kernel), a builder support program offering up to $100,000 (approximately 150 million won) in funding per selected team. Applications are open until July 31, with final selection results to be announced by August 14. The program, developed in partnership with Web3 brand GIWA, aims to expand the Web3 ecosystem by supporting developers building services on the GIWA chain through technical consulting, development funding, and ecosystem onboarding. The initiative reflects the growing institutional support for blockchain infrastructure development in South Korea's digital asset market.
Upbit Launches GASOK Builder Program with GIWA Partnership
On the 14th, Upbit announced the recruitment of participants for GASOK, a developer support program created in collaboration with Web3 brand GIWA. GASOK is an acceleration program targeting projects developing services on the GIWA chain, providing technical consulting, development funding, and ecosystem onboarding support. Selected projects receive stage-by-stage support from the ideation phase through mainnet launch to long-term ecosystem integration.
Program Offers Five Development Tracks and Selection Criteria
Eligible applicants include individuals and teams currently developing or planning to develop GIWA chain-based projects. Participants can apply by selecting one of five tracks: DeFi (Decentralized Finance) and RWA (Real World Asset) tokenization, Consumer and Social, GIWA Native Ideas, AI and Web3, or Mass Adoption.
Upbit plans to select up to 3 teams per track. The exchange noted that if no suitable candidates are found based on evaluation results, selections may not be made for certain tracks.
Selected Teams Receive Funding and Comprehensive Support Package
Selected teams receive up to $100,000 in funding per team, along with a builder activity package, expert consulting, office space support, promotion, and in-app onboarding. Funding is distributed sequentially based on program progress stages and achievement of Key Performance Indicators (KPIs).
Additional support includes 24-hour technical assistance, ecosystem integration, and venture capital introductions. Teams participating in the Korea Blockchain Week (KBW) Demo Day, scheduled for September 30 to October 1, will have opportunities for VC investment reviews and fundraising.
Four-Stage Program Structure from Ideation to Mainnet Launch
The program operates in four stages. Stage 1 evaluates idea pitching and GIWA ecosystem fit. Stage 2 supports Minimum Viable Product (MVP) and testnet development, with technical support from the GIWA team and private beta participation opportunities.
Stage 3 supports market launch and mainnet deployment. Selected teams receive industry expert advisory, promotional support, Seoul office space support (if needed), and pitching opportunities at the KBW Demo Day. Stage 4 provides an additional bonus grant of up to $80,000 (approximately 119.44 million won) based on achievement of KPIs including trading volume, Total Value Locked (TVL), and user acquisition. Subsequent support including technical assistance, ecosystem integration, and VC introductions continues throughout this stage.
Upbit stated, "Unlike short-term competition-focused hackathons, GASOK is a 5-month-plus incubation and acceleration program focused on actual service development, mainnet deployment, and long-term ecosystem establishment. We plan to support the entire process from initial ideation through MVP, testnet development, to mainnet launch."
Application Deadline July 31 with Results by August 14
Applications are accepted until 11:59 PM on July 31. Final selection results will be individually notified via applicant email by August 14.
FAQ
What is the maximum funding amount offered by Upbit's GASOK program?
The GASOK program offers up to $100,000 (approximately 150 million won) per selected team, with funding distributed sequentially based on program progress and KPI achievement. An additional bonus grant of up to $80,000 is available in Stage 4 based on metrics including trading volume, TVL, and user acquisition.
When is the application deadline for the GASOK builder program?
Applications for the GASOK program are accepted until 11:59 PM on July 31. Final selection results will be announced by August 14 via individual email notification to applicants.
