Franklin

Boost

Foundation

Avalanche

The Avalanche Foundation&nbsp;<a style="text-decoration:none" href="https://www.avax.network/blog/avalanche-foundation-announces-the-infrabuidl-program" rel="noopener noreferrer nofollow">unveiled</a> the infraBUIDL() Program, designed to support and accelerate the development of tooling and infrastructure for Avalanche Layer 1 chains. This program aims to fortify the Avalanche ecosystem by providing targeted support to developers focused on building essential infrastructure components.
<h2 dir="ltr" id="span-span-objectives-and-scope-of-the-infrabuidl-program-span-span">Objectives and Scope of the infraBUIDL() Program</h2>
The initiative will provide funding to attract top-tier talent and build a robust community of developers.
<h3 dir="ltr" id="span-span-strong-key-focus-areas-strong-span-span">Key Focus Areas</h3>
The program is set to target several critical areas within the Avalanche ecosystem, including:
<ul>
 <li>On &amp; Offramps: Tools to facilitate seamless entry and exit points for users.</li>
 <li>Validator Marketplaces: Platforms to support and optimize validator operations.</li>
 <li>Virtual Machines: Enhancements to support custom blockchain functionalities.</li>
 <li>Wallets: Development of secure and user-friendly wallet solutions.</li>
 <li>Oracles: Systems for integrating external data into the blockchain.</li>
 <li>Interoperability Tools: Solutions to enable communication between different blockchains.</li>
 <li>Cryptography: Advances in securing blockchain transactions and data.</li>
 <li>Bridges: Mechanisms for transferring assets across different blockchain networks.</li>
 <li>Explorers: Tools for monitoring and analyzing blockchain activity.</li>
 <li>RPCs (Remote Procedure Calls): Enhancements for interacting with the blockchain network.</li>
 <li>Data Storage: Solutions for efficient and secure data management.</li>
 <li>Indexers: Tools to organize and retrieve blockchain data efficiently.</li>
 <li>Token Engineering: Innovations related to the creation and management of digital tokens.</li>
</ul>
<h2 dir="ltr" id="span-span-funding-structure-and-grant-tiers-span-span">Funding Structure and Grant Tiers</h2>
The infraBUIDL() Program will employ a&nbsp;<a style="text-decoration:none" href="https://forum.avax.network/t/avalanche-infrabuidl-program/2992" rel="noopener noreferrer nofollow">hybrid funding model</a> that includes both direct and milestone-based grants. This approach ensures that developers receive essential support while also being incentivized to meet specific project milestones.
<ul>
 <li>Direct Grants: These are awarded upfront to help developers achieve initial project milestones.</li>
 <li>Milestone-Based Funding: Additional funds are provided based on the successful completion of the milestones set during the direct grant phase.</li>
</ul>
Funding amounts are determined based on the complexity, strategic importance, and level of innovation of each project. The general structure for grant tiers includes:
<ul>
 <li>Small-Scale Projects: Up to $100,000</li>
 <li>Medium-Scale Projects: $100,000 - $250,000</li>
 <li>Large-Scale Projects: Higher amounts are available upon application and review.</li>
</ul>
<h2 dir="ltr" id="span-span-application-process-span-span">Application Process</h2>
To apply for the infraBUIDL() Program, projects must align with the Avalanche ecosystem’s goals and demonstrate how they will enhance the infrastructure landscape. Key criteria include:
<ul>
 <li>Alignment with AF’s Mission: Projects should support the Foundation’s objectives and the needs of Avalanche users and developers.</li>
 <li>Technical Expertise: Teams must show their capability to deliver the project successfully within the proposed timeline and budget.</li>
 <li>Innovative Contributions: Projects should present innovative solutions that address current or future needs within the Avalanche ecosystem.</li>
</ul>
<h2 dir="ltr" id="span-span-recent-developments-in-the-avalanche-ecosystem-span-span">Recent Developments in the Avalanche Ecosystem</h2>
The timing of the infraBUIDL() Program's announcement aligns with several notable developments in the Avalanche ecosystem:
<ul>
 <li>Franklin Templeton's FOBXX: On August 22, 2024, Franklin Templeton&nbsp;<a style="text-decoration:none" href="https://www.avax.network/blog/franklin-templeton-launches-tokenized-money-market-fund-benji-avalanche" rel="noopener noreferrer nofollow">introduced</a> its Nasdaq-listed OnChain U.S. Government Money Fund (FOBXX) on the Avalanche network. This move allows institutional investors to use digital wallets on Avalanche’s Benji Investments platform, expanding investment options in U.S. government securities and cash.&nbsp;</li>
 <li>Grayscale Avalanche Trust: Also&nbsp;<a style="text-decoration:none" href="https://www.globenewswire.com/news-release/2024/08/22/2934225/0/en/Grayscale-Investments-Launches-Grayscale-Avalanche-Trust.html" rel="noopener noreferrer nofollow">announced</a> on August 22, 2024, Grayscale Investments launched the Grayscale Avalanche Trust. This new investment product provides exposure to Avalanche (AVAX), highlighting the platform's growing prominence in the crypto space.&nbsp;</li>
 <li>Retail Investment Expansion in Hong Kong: In Hong Kong, the&nbsp;<a style="text-decoration:none" href="https://www.scmp.com/tech/blockchain/article/3276193/crypto-exchange-hashkey-opens-avax-link-sales-retail-investors-hong-kong" rel="noopener noreferrer nofollow">recent approval</a> for listing Avalanche and Chainlink coins on Hashkey has broadened retail investment options. This development increases the cryptocurrency choices available to Hong Kong retail investors, who previously had limited options.</li>
</ul>

Avalanche Foundation Announces infraBUIDL() Program to Boost Blockchain Tooling and Infrastructure

Table of Contents

BSCN

Other articles published on Aug 30, 2024

El Salvador’s $135M Bitcoin bet now worth $400M—President Bukele says we have done well

Quidax Becomes Nigeria’s First SEC licensed Crypto Exchange

Top 5 Altcoins to Watch in the Next Bull Run

Controversy Sparks Massive Bitcoin Withdrawal: What’s Next for BTC?

Elon Musk Dogecoin Lawsuit Dismissed by Judge

Russia to Test Cryptocurrency for Cross-Border Payments Amid Western Sanctions

Join our free newsletter for daily crypto updates!