Avalanche Initiates $40 Million Retro9000 Grant Program

user avatar

by Giorgi Kostiuk

2 years ago

The Avalanche Foundation has announced the launch of the $40 million Retro9000 grant program. This initiative aims to incentivize developers to create new protocols within the blockchain ecosystem.

Launch of the Retro9000 Grant Program

The Avalanche Foundation is initiating the $40 million Retro9000 grant program aimed at rewarding developers who create new protocols in the blockchain ecosystem. The grants will be awarded to developers who deploy their projects to the mainnet and undergo user voting during an extended testnet phase.

Goals of the Avalanche9000 Upgrade

The Avalanche9000 upgrade is expected to be the largest update since the mainnet launch in 2020. This upgrade promises to make launching tier 1 applications on Avalanche cheaper, easier to customize, and smoother to maintain. According to Ava Labs Chief Operating Officer Luigi D'Onorio DeMeo, the exact date for the upgrade has not been set, but the testnet is slated for launch in October.

Current Status of Avalanche (AVAX)

The cryptocurrency Avalanche (AVAX) reached a high of $60 in March but has since fallen by more than 50%, currently trading at $28.3.

The launch of the Retro9000 grant program and the upcoming Avalanche9000 upgrade highlight the Avalanche Foundation's commitment to growth and innovation within its blockchain ecosystem. These initiatives are expected to attract new developers and enhance the overall user experience.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Gate Reports Impressive Cold Storage Coverage Ratio

Gate's cold storage coverage ratio reached an impressive 104.58%, ensuring all user assets are secure.

user avatarRajesh Kumar

Gate Launches Innovative Proof of Security Framework

Gate has launched a new asset security verification framework called Proof of Security (PoSEC), becoming the first digital asset trading platform to implement such a system.

user avatarMiguel Rodriguez

US DOJ Launches Task Force to Combat AI Misuse

The US Department of Justice has launched a task force to combat the misuse of advanced artificial intelligence, ensuring American leadership is not compromised by bad actors.

user avatarLuis Flores

Mercado Bitcoin Suffers Major Security Breach with $48 Million Stolen

Mercado Bitcoin has reported a significant security breach, with over $48 million in assets stolen across 11 blockchains. The breach occurred on November 2, 2023, challenging the exchange's claims of containment.

user avatarArif Mukhtar

Trump's Stock Market Celebration Turns Sour

President Trump's celebration of Wall Street's highs quickly turned negative as the SP 500 plunged, prompting discussions of emergency trading halts.

user avatarMaria Gutierrez

Market Faces Emergency Trading Thresholds Amid Selloff

The US stock market approached emergency trading thresholds as the SP 500 faced significant declines, raising concerns among traders.

user avatarDavid Robinson

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.