Avalanche Launches Dual Funding Rounds for DeFi and Gaming with Gitcoin – BitRss

The Avalanche Foundation has announced the launch of two new funding rounds in partnership with Gitcoin, aimed at supporting innovative projects in decentralized finance (DeFi) and gaming. This initiative builds on the success of the Avalanche Community Grants Program, which began in April 2024. The new rounds will allocate 7,000 AVAX each, totaling approximately $500,000, to bolster community-driven projects.

The funding rounds utilize Gitcoin’s quadratic funding model, which amplifies the impact of community donations by focusing on the number of contributors rather than the size of contributions. This approach ensures that projects with broad community support receive more matching funds, fostering innovation within the Avalanche ecosystem.

Significant Developments in Avalanche’s Ecosystem

The launch of these funding rounds coincides with Avalanche’s introduction of Avalanche9000 in December 2024. This development has significantly reduced the cost of launching custom blockchains, known as subnets, by eliminating the need for validators to stake 2,000 AVAX. Instead, new blockchains can operate with a small ongoing fee, making it more affordable for projects to create purpose-built Layer 1 blockchains tailored to specific needs.

This innovation has been particularly beneficial for projects like The Pit, a gaming initiative that emerged from Avalanche’s memecoin community. Avery, the founder of The Pit, highlighted the advantages of Avalanche’s infrastructure, noting its cost-effectiveness and seamless integration capabilities.

Community-Driven Success Stories

The first round of the Avalanche Community Grants Quadratic Funding, conducted on Gitcoin’s Grant Stack, distributed 7,000 AVAX and attracted significant community participation. Notable projects from this round include DeFi Llama and Snowpeer. DeFi Llama used the funding to expand its analytics platform, providing comprehensive data for decentralized finance applications. Snowpeer developed tools to enhance the understanding and visualization of the Avalanche network, improving accessibility for new users and developers.

These projects exemplify how community-driven funding empowers developers to create essential tools, fostering innovation and strengthening the Avalanche ecosystem.

Strategic Focus on DeFi and Gaming

The new funding rounds focus on two key areas where Avalanche’s technology offers unique advantages. The DeFi Innovation Round aims to support projects that advance decentralized finance through infrastructure, innovative protocols, and enhanced security tools. The Gaming and Interactive Experiences Round targets groundbreaking blockchain gaming projects that offer novel player experiences and in-game economies.

Applications for these rounds open on February 3, 2025, and close on February 18, 2025. The donation period runs from February 18 to March 4, 2025, with results announced on March 7, 2025, and payouts distributed from March 10 to March 14, 2025. More details can be found here.

Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.

The post Avalanche Launches Dual Funding Rounds for DeFi and Gaming with Gitcoin appeared first on CoinsHolder.