The Interchain Foundation, the organization funding the development of Cosmos, has committed new funds to support the growth of the blockchain and Web3 ecosystem.
The Interchain Foundation has released its funding program for 2024, in which it has committed to continue fostering the long-term sustainability and growth of the blockchain ecosystem. In the program, the foundation noted the need to continue expanding the capabilities of the blockchain, in order to foster adoption and overall value of the industry.
He said $26,4 million has been committed to the new financing program for the next year, with the aim of supporting the development of new improvements and solutions that meet the needs of the various communities that operate in the blockchain ecosystem.
The foundation also highlighted that the Interchain Stack development teams have, for the first time, developed a comprehensive roadmap focused on the ecosystem's technical and market priorities.
Funding for Cosmos Hub, Interchain Builders and more
The Interchain Foundation detailed that $3,5 million of its 2024 funding program will be allocated to support the teams developing and maintaining the Cosmos Hub. Similarly, $1 million will be allocated to the Interchain Builders program, with the aim of further accelerating the adoption of the interchain stack in Web2 and Web3. The organization also detailed that it will fund the Interchain Developer Academy, as well as other initiatives that improve the ecosystem.
Cosmos SDK will also receive a portion of funding from the Interchain Foundation’s 2024 funding program. According to the organization, $4,5 million will be allocated to the Cosmos blockchain framework, which is a set of tools that makes it easier for developers to build native applications on the Interchain core.
Specifically, the funds that will be allocated to the Cosmos SDK will be given to the Binary Builders ($3,5 million) and Zondax ($1 million) teams, who have been working on developing the Cosmos developer toolkit.
Other projects that are part of the Cosmos ecosystem and will receive funding from the Interchain Foundation include the CosmWasm smart contract framework and the CosmJS development library.
With its new funding program, the Interchain Foundation aims to continue its mission of nurturing and sustaining the interchain ecosystem, adapting its strategies to meet the changing needs of the crypto community.
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