Avalanche Foundation has created a fund for the ecosystem development
The amount of $200 million will be used to support projects on the Avalanche blockchain

02.11.2021 - 07:50
651
1 min
0
.
What's new? The Avalanche Foundation has published a tweet with details about the creation of the development fund called Blizzard. The total amount of the fund's money amounted to $200 million.
The Avalanche Foundation has launched Blizzard, a $200M+ fund dedicated to accelerating development, growth, and innovation across the #Avalanche ecosystem.Check out the full details below ⬇️https://t.co/AR25D8E2lL— Avalanche 🔺 (@avalancheavax) November 1, 2021
Who participated in the creation? Contributions to the fund development were collected from the following companies: Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Ava Labs and the Avalanche Foundation.
What will the funds be used for? The purpose of the fund is to support projects in the Avalanche public blockchain ecosystem. The main focus will be on the development of four areas: decentralized finance, NFTs, enterprise applications and the cultural sphere.
The main measures of project support include equity investments, token purchases, assistance in business development and integration of startups into the ecosystem.
Useful material?
Market
Once the SEC confirms, the filing will be published in the Federal Register, which will initiate the approval process
Feb 11, 2025
Market
Analysts at JPMorgan Bank believe the asset will continue to face pressure amid growing competition
Feb 6, 2025
Market
The hacker used the account to promote MEOW and DCOIN scam tokens
Feb 6, 2025
Market
The company’s operating expenses rose 693% year-over-year to $1,103 billion
Feb 6, 2025
Crypto regulations
Group head Hester Peirce criticized the regulatory approach formed by former chairman Gary Gensler
Feb 5, 2025
Incidents
This status has been maintained for the first cryptocurrency since September 2021 but was canceled due to pressure from the IMF
Feb 3, 2025