Crypto platforms are racing ahead of one another and ensuring there are no loopholes in the system’s efficiency. Platforms are working hard with targets, which when met could give a notable boost to the native tokens as well.
Terra (LUNA)
The Terraform technologies are promising enough that have resulted in influencing the investors. Not only just on the blockchain but on the ecosystem of products and projects that are built on the ecosystem. The investors have committed $150 million to the ecosystem.
Reports suggest that Pantera capital and Arrington XRP have just committed to investing $150 million in products of the platform. Terra has gained ground fast with merchants and users in South Korea. The settlement time was reduced from days to seconds.
Algrond (ALGO)
The Algorand foundation has launched a $300 million USD fund to support innovation in De-Fi. The foundation has announced a 150 million ALGO worth $300 million USD funds to support De-Fi innovation on the network. Moreover, the fund is could fuel the growth of DEX, the money market, NFT platforms, amongst others.
According to some reports 50 million, ALGO will support the development of Dapps. Additionally, the first $5 million Supa Grant will be for bi-directional bridges for Ethereum and other chains. Secondly, the $5 million Supa Grant will seek proposals for the integration of oracle networks with the price feeds. The remaining fund is to be as a reserve for the development of the ecosystem.
The foundation will be allocating a fund of 100 million ALGO tokens worth about $200 million USD for the liquidation of incentives to the De-Fi ecosystem.
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Solana (SOL)
Solana raises $314 million to develop a faster blockchain for decentralized finance and decentralized applications. Phantom is a digital wallet based on the Solana blockchain network. Moreover, it has announced a $9 million funding in series which is led by Andreessen Horowitz.
Avalanche (AVAX)
Avalanche is a high-speed small contracts platform that supports sub-second finality and visa-level throughput. The platform also supports EVM and NFTs. A crypto decentralized exchange platform SushiSwap has joined AVA labs, $180 million is allocated for the incentive programs of decentralized finance.
Fantom (FTM)
Fantom has allocated 370 million FTM’s for an incentive program for developers. The protocol teams can give rewards from the Fantom Foundation based on their TVL. It ranges from 1,000,000 FTM to 5,000,000 FTM in its first iteration and these rewards can undergo an upgrade as per requirements. The protocol is applicable for both new and existing protocols in the ecosystem.
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Polygon (MATIC)
Polygon is a maker of NFTs based on crypto platforms, the makers have set up $100 million funds for projects aiming at combining blockchain tech with gaming. Moreover, in order to cater to the gaming companies, Polygon will be setting up Polygon studios so that developers can fuse their web 2.0 games with the web 3.0 decentralized technology.
Harmony (ONE)
Harmony is a blockchain protocol that boasts a 2-second transaction finality and offers cross-chain bridges to the protocols of layer-1 including Bitcoin, Ethereum, Polkadot, and Binance smart chains. The platform also promotes NFTs.
The makers have introduced a $300 million incentive program aiming at attracting anyone who can impart value to the ecosystem including writers, artists, musicians, and developers. The incentive resulted in the rally of Harmony’s prices by around 120%.
Summing up, the funding and incentives will surely benefit the makers in the longer run, and probably encourage more creators and applications to join the system. Eventually, this could impact the prices and value of the coins by the move.
Also Read: Cardano’s Alonzo Smart Contract Rolls Out, ADA Price Remains Unaffected!
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Source: https://coinpedia.org/altcoin/platforms-gear-up-to-elevate-crypto-space-to-the-next-level/