Aleph Zero Launches $50M Ecosystem Funding Program To Boost Web3

Aleph Zero Launches $50M Ecosystem Funding Program To Boost Web3
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Aleph Zero, a layer 1 privacy-enhancing blockchain, has just introduced a brand new funding program consisting of a $50 million pool to support developers in driving adoption of Web3, as they announced through a blog post.

Post-pandemic the world and society as a whole have changed rapidly, and along with it, the concept of technology. Over the recent few years, the burgeoning Web3 technology has taken the world by storm. It is a world-changing opportunity to make a better version of the internet and wrest it away from the monopolistic behemoths that control it today.

While Web1 was a static and read-only version of the internet, it evolved to Web2, which lets users read and also write, letting them participate within the ecosystem and giving birth to content creation. However, Web3 does everything that Web2 did but more, as it reinvents the scope of user ownership as well as decentralization.

Aleph Zero Bets Big On Safer DeFi

Web3-related companies are putting in fervent efforts to ramp up adoption and create a decentralized internet ecosystem. In the latest development, Aleph Zero launched a brand new initiative to support its developers and founders on multiple fronts such as grants, incubation, and acceleration to build a better Web3 ecosystem. The funding program will help improve Web3 scalability and privacy in a transparent and seamless manner to make decentralized finance (DeFi) safer.

According to the official blog post, the Ecosystem Funding Program will consist of a $50 million pool of grant and follow-on funding to ensure the ongoing development of the network and support its developers to build innovative Web3 products on the Aleph Zero blockchain.

The program will grant each participating project with funding of up to $500,000 along with access to the Aleph Zero Foundation’s venture capital pool and the network of incubator partners. In addition, the participants will also receive assistance with front-end development, UX design, branding, and marketing.

Aleph Zero Bets Big On Safer DeFi

Valiant Efforts To Simplify Web3 Adoption

Aleph Zero will grant up to $100,000 worth of credits with the Amazon Web Services (AWS) Activate program. Enrolled participants will also receive AWS business support and AWS technical support. Furthermore, the privacy-enhancing blockchain has also partnered with Kudelski Security to provide projects with code audits and holistic cybersecurity support. Aleph Zero noted,

“We are pleased to announce that Aleph Zero Foundation and its partner network have introduced the Ecosystem Funding Program that will support developers and founders to share the vision for scalability combined with the right balance of transparency and privacy in Web3 products.”

In a short span of time, Aleph Zero has managed to garner massive attention to simplify Web3 adoption. Recently, it joined another initiative dubbed “Ink!ubator” along with other Web3 players to bolster the ink! Ecosystem. ink! is an Embedded Domain Specific Language (eDSL) to write smart contracts in Rust for blockchains built on the Substrate framework.

The incubator program has been designed to kickstart the ink! ecosystem on Polkadot, Kusama, and other Substrate chains. It aims to focus on several areas including developer growth, security audits, full-stack tooling, as well as high-impact product launches.


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