The smart contract platform Avalanche Foundation has rolled out a new incentive program called “Multiverse” to help expand subnets on the network, according to a press release Thursday (March 17th).
Multiverse has an incentive of up to $ 290 million per release, and the program will consider creating a scalable chain that supports decentralized finance (DeFi), non-fungible tokens (NFT), games, and more. ..
In a company blog post, Avalanche states that subnets allow users to create powerful and secure “permitted or unauthorized networks with custom implementations.”
The post continues that these subnets are natively integrated with Avalanche’s broader ecosystem, enabling Web3 applications to “differentiate an unprecedented user experience.”
With each release, Multiverse offers new opportunities for WonderFi Technologies, Coinbase, BitDigital and more.
WonderFi is a technology company that uses centralized and decentralized compliant platforms to increase access to digital assets. The company announced on Wednesday (March 16) that the Ontario Securities Commission has given final regulatory approval for the acquisition of the crypto platform BitBuy.
Ben Samaroo, President and CEO of WonderFi, said: “Both teams have been active in integration and strategic planning focused on creating value for shareholders by providing secure and compliant access to cryptocurrencies and DeFi.”
PYMNTS wrote about Avalanche earlier this year, stating that Avalanche is one of the “Ethereum Killer” blockchains that is considering stealing DeFi, NFT, and other types of projects from the Ethereum blockchain.
read more: PYMNTS Blockchain Series: What is an Avalanche?
Avalanche was the twelfth blockchain with a market capitalization of approximately $ 22 billion at the time of writing the report. Like some other Ethereum killer, there is creator Emin Gün Sirer, an associate professor of computer science at Cornell University.
Avalanche reportedly offers a speed of 4,500 transactions per second and is equipped with a fully production-ready blockchain ready to process 20,000 TPS when work is complete.
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