The multiverse” incentive program of the Avalanche Foundation is investing up to $ 290 million
The multiverse” incentive program of the Avalanche Foundation is investing up to $ 290 million
- The program and the investments of Avalanche Multivevers are divided into at least six phases to support new cohorts and projects
- up to four million Avax tokens will finance the program
An investment fund for the Avalanche Blockchain has introduced an incentive program with millions of dollars for the proof-of-stake ecosystem.
up to four million Avax tokens or about $ 290 million at the time of publication will finance the program, which is also known as an Avalanche Multive verses.
The initiative will aim to expand your “subnet” functionality, which helps to develop application-specific blockchains on avalanches. Subnows are integrated in the wider ecosystem of Avalanche, available in unlimited quantities and enable custom implementations - or the possibility to add functions from other chains.
The program and the investments of Avalanche multi -verses are divided into at least six phases to support new cohorts and projects, but are not limited to a certain period of time.
The first subnet that receives an investment from the program is Defi Kingdoms, an NFT gaming project. Up to $ 15 million of incentives from AVAX token as well as the new avalanche native token Crystal and the existing token of the game will be obtained.
AVA Labs, a core developer of Avalanche, will also work with the Aave Companies, Goldentree Asset Management, Wintermute, Jump Crypto, Valkyrie, Security and other organizations to build the subnet. This will be regulated institutions that participate, to use their subnets and access institutional defi (decentralized finances) after they have completed Know-your-customer (KYC) exams.
"Avalanche-Sub intoets enable us to create an ideal environment for institutions to migrate on-chain and to experience the performance of defi protocols first-hand as a user and not just as investors," said Stani Kulechov, founder and CEO of AAVE, in an explanation. "This is a significant leap into a future in which the barriers no longer exist between traditional and decentralized financing."
In November, Avalanche put on a $ 200 million fund to support ecosystem growth on its blockchain. A few months earlier, it also completed a token sale of $ 230 million, which was supported by Three Arrows Capital and Polychain.
The native token of Avalanche, Avax, had a price of 75.39 $ data on Tuesday. The Coindie market capitalization of is almost $ 19.9 billion, which classifies the token as a tenth largest cryptocurrency behind Solana (SOL) and before Binance USD (BUSD), as the data show.
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The "multiverse" incentive program of the Post-Avalanch Foundation for investing up to $ 290 million is not a financial advice.