The Avalanche Foundation has taken action to attract more developers to the Avalanche blockchain.
The foundation, which previously launched a $180 million fund for DeFi developers, announced that it has launched another $220 million fund under the new incentive plan.
In the announcement made on the official Twitter account, it was reported that “Blizzard”, a fund of over $200 million aimed at developing and growing in the Blockchain ecosystem, has been launched.
The Avalanche Foundation has launched Blizzard, a $200M+ fund dedicated to accelerating development, growth, and innovation across the #avalanche ecosystem.
Check out the full details below ⬇️https://t.co/AR25D8E2lL
— Avalanche 🔺 (@avalancheavax) November 1, 2021
Avalanche’s new incentive fund investors include 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.
The new funding, called “Blizzard,” is expected to attract developers focused on DeFi, enterprise applications, NFTs and culture into the Avalanche ecosystem.
In a statement on the subject, Avalanche Foundation Director Emin Gün Sirer emphasized that Avalanche has shown an incredible growth in users, assets and applications that have joined the platform in the last two months, and said:
“Blizzard will play an important role in further accelerating this growth and solidifying Avalanche’s position as the first home for our projects and people leading the next era in our space.”
*Not investment advice.