With the surging popularity and adoption of blockchain technology, dozens of firms have allocated funds for the further development and advancement of digital ledger technology, in a most recent development it has been noted that Ronin Network, the Ethereum Virtual Machine (EVM) has announced a grant program of $10 million dedicatedly for its community developers.
The grants initiative by the Ronin ecosystem was announced on January 16, and the information came into the spotlight after the firm posted on its official X handle.
According to the available information the allocated sum will be used to expand the capabilities of blockchain and will help to attract more developers. Worth noting that the $10 million grant pool will be distributed among developers and waypoints.
Following the release of funds, the grant’s website said “ We’re excited to support teams and game studios with innovative ideas to expand the capabilities and utilities of the Ronin Ecosystem.”
The grants are part of a larger plan to encourage developer cooperation and make Ronin a platform for consumer DApps, DeFi protocols, and gaming technologies.
According to Ronin’s official blog, eligible teams who integrate Ronin Waypoint are eligible to apply for a $20K grant in RON through the Waypoint Grant program.
Projects aimed at improving UX and streamlining user onboarding are sought after by this program.
The award, which is intended to cover gas expenses, gives builders the ability to get their projects off the ground while guaranteeing end users a smooth on-chain experience.
Developers will also receive access to the Ronin Builders Discord group, which allows them to work together with advisors, venture capitalists, and peers to create a supportive and creative network.
Along with possible discounts from infrastructure and tools providers, the funding program also provides integration chances with current Web3 games and ecosystem partners.
To ensure a customized approach to each project’s demands, developers who are interested in more than one grant must apply for each one separately.
Most recently it has been reported that Transak, a known crypto-based company, has partnered with Ronin Network, a gaming-focused blockchain developed by Sky Mavis, to simplify fiat-to-crypto transactions and NFT purchases.
Earlier in August 2024, Todayq reported that hackers successfully wiped out Ethereum (ETH) worth $9.33 Million from the Ronin Bridge. It is crucial to note that hackers identified a vulnerability in the bridge’s validation mechanism that helped them fake transactions and drain the available funds.
Crypto market price update
Until publishing the cryptocurrency market capitalization was $3.49 trillion with an addition of 4.31 percent, at the same time the trading volume of the market was $160. 68 billion with a growth of 30.32 percent.
Yet the fear and greed index of cryptocurrencies at 60 determines greediness in the wider market sentiment. At the same Bitcoin was at $99,220 with a growth of 2.79 percent in the past 24 hours.
The market capitalization of BTC was at $1.96 trillion with a surge of 2.77 percent and the trading volume was $58.04 billion with a surge of 15.59 percent.
