The Avalanche Foundation has made a significant move to bolster the blockchain development community. On September 26, the foundation announced a $40 million grant program designed to incentivize developers to build layer 1 (L1) blockchains. This initiative falls under the new “Retro9000” program, aiming to encourage and support the development on the Avalanche9000 testnet. The latest upgrade simplifies the development process for blockchain creators, making it more cost-effective and efficient. This represents the largest update in Avalanche’s history and aligns with the foundation’s vision of a more scalable blockchain ecosystem.
What is Avalanche Retro9000?
Avalanche9000 is more than just an upgrade; it’s a comprehensive system tailored for developers. The Retro9000 program will offer retroactive grants to developers who build L1 chains and essential tools. These grants will be awarded based on community votes through an introduced leaderboard system. Community engagement is a cornerstone of this initiative, encouraging developers to work transparently and gain community support. The likelihood of receiving a reward hinges on the project’s community backing.
Benefits of Building on Avalanche
There are numerous advantages to developing on Avalanche. Developers have the flexibility to build custom blockchains, manage staking economics, and integrate regulatory compliance. Avalanche9000 unlocks a full range of customizations, including gas tokens and permissionless validator sets. This new grant program, offering up to $40 million in retroactive grants, aims to reward developers contributing to the testnet and launching their projects on the mainnet. This initiative empowers developers to innovate and build effectively.
Noteworthy companies like Deloitte and DeFi Kingdoms have already deployed Avalanche L1s. The network also features Avalanche Interchain Messaging (ICM), which connects all L1s within the network. This connectivity allows them to share liquidity and grow collectively.
Upcoming Avalanche9000 Launch Event
The Avalanche9000 testnet is set to officially launch at the Avalanche Summit LATAM in Buenos Aires. The event will take place from October 16 to 18, 2024. Developers attending the summit will have the opportunity to witness the future of Avalanche firsthand. This event will also mark the commencement of the Retro9000 program, promising rewards for the pioneering builders in this new phase. If you’re a developer, now is the perfect time to get involved. This is your chance to build on a network designed for innovation and scalability.
