The post Avalanche Announces $40M Grants for Developers as Avalanche9000 Kicks Off appeared first on Coinpedia Fintech News
Avalanche is making a big move to support blockchain developers. The Avalanche Foundation on September 26, announced a $40 M grant program to encourage devs to build layer 1 blockchains. This initiative is a part of the new “Retro9000” program. The objective of this initiative is to encourage and support developers to build on Avalanche9000 testnet. This is the latest upgrade on the network that simplifies the process for developers. The creation of L1 blockchains is now cheaper and more efficient. This is the largest update in avalanche history that aligns with the more scalable blockchain system vision of the foundation.
What is Avalanche Retro9000?
Avalanche9000 isn’t just an upgrade, it’s a complete system for developers. The Retro9000 program will provide retroactive grants to developers. Those who build L1 chains and critical tools will receive rewards. Avalanche even introduced a leaderboard where community votes will decide who earns the grants.
Community engagement is key in this program. Developers are encouraged to build in public and gain support from the community. The chances of getting a reward depends on the community support to the project built by the devs.
Benefits of Building on Avalanche?
Developing on Avalanche brings many benefits. Developers can build custom blockchains, control staking economics, and integrate regulatory compliance. The Avalanche9000 unlocks full customization, including gas tokens and permissionless validator sets.
Avalanche L1s have already been deployed by well known companies like Deloitte and DeFi Kingdoms. The network also includes Avalanche Interchain Messaging (ICM). This connects all L1s in the network, allowing them to share liquidity and grow together.
Upcoming Avalanche9000 Launch Event
The Avalanche9000 testnet will officially launch at Avalanche Summit LATAM in Buenos Aires. The event runs from October 16 to 18, 2024. Developers will have the chance to see the future of Avalanche up close. This event will also mark the start of the Retro9000 program, which promises to reward the first builders in this new phase.
If you’re a developer, now’s the time to get involved. This is your chance to build on a network designed for innovation and scalability.