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News

Avalanche Grant Program Launched to Boost Developers With $40M

September 26, 2024 - Around 2 mins mins to read

Key Points:

  • The Avalanche Foundation has launched a $40 million initiative called “Retro9000” to incentivize developers to create Layer 1 blockchains on the Avalanche.
  • The Avalanche grant program coincides with the upcoming “Avalanche9000” upgrade.
The Avalanche Foundation has just announced a $40 million grant program that would incentivize developers to build Layer 1 blockchains on the Avalanche network.
Avalanche Grant Program Launched to Boost Developers With $40M

Read more: Franklin Templeton Tokenized Fund Now Launched on Avalanche

Avalanche Grant Program Unveiled with $40 Million for Developers

The launch comes with the announcement of “Retro9000,” a retroactive grant program designed to support the recent upgrade, “Avalanche9000.”

The Avalanche grant program, launching September 26, will simplify and decrease the cost of building L1 blockchains for developers. Avalanche Foundation set its stance that this program would only incentivize activity that creates L1 chains and all fundamental developer tooling on the Avalanche9000 testnet.

The foundation said in a statement that the submissions to the Avalanche grant program would be ranked in a public leaderboard, where community votes decide the size of the retroactive grant. Builders and users will have to sign up for an account on Retro9000, a site in which usage of the network will translate into votes.

Upcoming Avalanche9000 Upgrade Avalanches Network Founded on Layers 1 blockchain

The Avalanche update, Avalanche9000, is set to be the largest upgrade to the platform since it went live with its mainnet in 2020, and claims ease in launching Avalanche-based L1 blockchains much more cost-effective, customizable, and easier to maintain.

The Avalanche Foundation wants to make the environment for development as rich as possible with Retro9000, which would drive innovation and ensure that the Avalanche ecosystem is strong as it prepares for an important evolution of its infrastructure.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Avalanche

Avalanche Grant Program

Avalanche9000

layer 1

Retro9000

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.