#Open-source project secures tens of millions in funding.#

Open-source project Merit Systems recently announced the completion of its $10 million seed funding round, led by a16z crypto and Blockchain Capital, with participation from notable figures like Solana co-founder Toly and Not Boring Capital founder Packy McCormick. The funds will be used to accelerate the development of the open-source economy. Merit Systems aims to solve the "attribution problem" in open-source software, where developers struggle to receive adequate compensation for their contributions. By establishing a protocol, Merit Systems provides a fair attribution and reward mechanism for open-source developers, allowing users to directly pay creators for their software. Co-founded by Sam Ragsdale, Ryan Sproule, and Mason Hall, the project is currently valued at $55.5 million and is expected to launch a wider product version by the end of February. Merit Systems' funding underscores investor confidence in the future of the open-source economy and the belief that Merit Systems can resolve the issue of developer incentives, driving the continued growth of open-source software.