PRESS RELEASE. Zug, Switzerland — Ambrosus Core, the technical foundation of Ambrosus Ecosystem, has announced the launch of a substantial developer funding program — $10 million for developers deploying decentralized finance (DeFi) applications and other decentralized solutions on the Ambrosus blockchain.

Ambrosus, a fully functional Layer 1 EVM-compatible Blockchain protocol, provides scalability and zero-knowledge-proof data security. It also has unique data storage capacity. Ambrosus Core launched a developer funding initiative to help support network growth and grow its user base.

DeFi on Ambrosus has recently seen an all-time high in total value locked (TVL) of over 310 million AMB as a result of its newly launched staking platform. The foundation now accepts applications for its grant program. This grant program is open to all new contributors who are interested in building dApps and NFTs on AMBNET. Developers and entrepreneurs can apply now for funding to build scalable solutions that allow seamless, low-cost transactions over the secure network.

The seven-figure grant is divided among:

• Startups–developers and entrepreneurs looking to launch a dApp on AMB-NET.
• Open-source developers–individuals and teams developing open-source products on top of AMB-NET.
• Educators–those who create unique and informative content for new Ambrosus Ecosystem participants.

Igor Stadnyk, Chief Technical Officer at Ambrosus Core, highlights: “The next chapter for Ambrosus Core is all about fostering DeFi growth on our network. We are proud to have developed a functional, reliable, and competitive blockchain. Now we want to assist new developers in building their exciting projects on AMBNET. I am excited to be launching this $10 million grant today, which will aid in embedding Ambrosus at the center of DeFi developments.”

About Ambrosus

Ambrosus, a Layer-1 open-source layer-1 scaling solution designed to promote widespread adoption of Ethereum and EVM-compatible platforms, is fully operational. It was created by Swiss industry professionals and is the first decentralized, efficient Proof of Authority network. Learn more on the website.

This is a press release. Before taking any action related to the promoted company, or any of its affiliates, or services, readers should do their due diligence. Bitcoin.com does not assume any responsibility for any loss or damage caused by the content, goods, or services mentioned in this press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Read More