Avalanche Foundation puts on Blizzard funds of $ 200 million to promote innovations Chain-Altcoins
Avalanche Foundation puts on Blizzard funds of $ 200 million to promote innovations Chain-Altcoins
The Avalanche Foundation, the organization behind the avalanche chain, has announced the launch of Blizzard, a fund that will promote development and innovation in the avalanche ecosystem. The fund that has $ 200 million available for its task is made up of contributions from Avalanche Foundation, AVA Labs, Polychain Capital, Three Arrows Capital and other participants.
Blizzard Fund comes to Avalanche Devs
The avalanche foundation has announced The introduction of a new fund that will help developers will continue to launch innovative products on the top of the avalanche blockchain. The fund called Blizzard will provide $ 200 million for developers who want to provide innovative apps in the ecosystem. Blizzard consists of contributions from the most important partners of Avalanche, including Avalanche Foundation, AVA Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Republic Capital, R/CRYPTO Fund, Collab+Currency, LVNA Capital and Finality Capital Partners.
According to the announcement, the fund will concentrate on four main growth areas, including decentralized finances, corporate applications, NFTS and cultural applications as well as other emerging applications. This last point can include liquidity providers, token editions and other applications.
The administration of the fund lies in the hands of an expert committee for blockchain programming and capital management, which monitors the medium-drawn allocation. On Blizzard, Emin Gün Sirer, director of the Avalanche Foundation:
Blizzard will play a key role in further accelerating this growth and consolidating the position of Avalanche as the first home for projects and people who are driving the next era in our world.
incentives are available
This is the second program of this kind that will be launched in less than three months at the top of the chain. In August, another program, which is mainly dedicated to Defi projects, was called avalanche rush was started. Rush put $ 180 million in the hands of protocols to provide users that provide liquidity in some pools. The protocols that are already on the program include sushiswap, trader joe, Benqi , curve and other.
This has led to a boom in the decentralized financial protocols of the chain. According to data from defillama , the total value of all decentralized financial protocols is now over 8 billion US dollar, compared to $ 312 million, as the incentive program. This shows that this type of program works surprisingly well to support activities.
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