The NEAR Protocol platform has created an ecosystem fund

$800 million will be allocated to support developers

26.10.2021 - 07:50

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1 min

What's new? The official Twitter account of the NEAR Protocol platform has published news about the creation of a new $800 million fund. The money will be used to develop the protocol ecosystem.

📣 Early #NEARCON Announcement! 💥Learn more about @NEARProtocol's $800M Global Ecosystem Fund. 🔽https://t.co/00UaiA3jC1— NEAR Protocol (@NEARProtocol) October 25, 2021

What will the money be used for? The sum of $800 million will be divided into several directions. The bulk of $350 million will be spent on decentralized finance projects. Another $250 million will be given to developers as grants. The team will finance a number of promising startups for $100 million. The last $100 million will be allocated for the development of NEAR Protocol regional offices.

The platform’s developers have also announced a further increase in the number of blockchain validators to 100. Additional funding will be provided for this.

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