Announcing the $30M Astar/Shiden Ecosystem Growth Fund
Today, we are thrilled to announce the launch of a $30M Astar/Shiden Ecosystem Growth Fund Ⅰ to help us build the premier dApp hub on Kusama and Polkadot.
In 2021 July, Shiden Network successfully became a Kusama parachain, and the network successfully enabled token transfers and smart contracts on August 30th. Astar Network and Shiden Network support Ethereum VM, WebAssembly, and layer2 protocols on Polkadot and Kusama respectively.
Becoming a Parachain is our first step. In the future, Astar and Shiden will act as a multichain smart contract hub supporting various L1 blockchains beyond Polkadot.
Supporting smart contracts has always been the most important milestone for us. What makes Astar and Shiden unique is that the platforms support both Ethereum Virtual Machine and WebAssembly, allowing people to deploy both Solidity contracts and ink! (WASM) contracts directly in our ecosystem.
The Astar/Shiden Ecosystem Growth Fund Ⅰ was set up to expand the Astar/Shiden ecosystem by supporting projects with economic incentives.
Growth Fund I will be used to achieve the following:
Financial Support for the participants of Builders Program
- Grants for infrastructure projects and proven projects
- dApp Staking(*) for application projectsGrowth Support
- Hackathons + Challenges
- Builders events/campaignsCampaigns (e.g. Exchanges)
VC sourcing for promising projects
Seed Funding
*dApp Staking is the system to distribute basic income to developers on Astar Network/Shiden Network. By building a product on Astar/Shiden, developers can earn native tokens from block rewards based on their performance and decentralized voting.
We have committed up to 6% of Shiden’s total supply at genesis ($30 million at the time of writing) for this long-term fund. To continually grow and support our ecosystem over the next 2–3 years.
If you are building on Astar/Shiden and are interested in getting financial support, the Builders Program is for you! Learn more about the program here:
Stay tuned for hackathon updates and Builders events/campaigns!
About Astar Network/Shiden Network
Astar Network (previously known as Plasm) is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines. Shiden Network is a sister network of Astar Network and a dApp hub on Kusama.
Feel free to reach out to us!
