Avalanche Foundation allocated $290 million to reward developers

The funds will be directed to projects related to the development of the Avalanche blockchain subnets

09.03.2022 - 09:25

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What’s new? The Avalanche Foundation has launched Multiverse, a special incentive program for ecosystem developers. A total of $290 million has been allocated to finance promising projects. This was announced by the representatives of the foundation in their blog.

The news on the Avalanche blog on the Medium platform

Who can be rewarded? The Multiverse program is aimed at encouraging developers who can improve the functionality of the subnets of the Avalanche ecosystem. In addition, projects that create new solutions in the field of DeFi, LIFT, and institutional use of blockchain technology can also apply for funding.

The first project to receive a $15 million reward was the game DeFi Kingdoms. Other participants and partners of the program include Aave, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie, and Securitize.

Avalanche is a blockchain ecosystem for launching decentralized applications and deploying smart contracts. The project was created in 2018, and in September 2021 the Avalanche mainnet was launched.

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