Mantle Core proposes $200 million Web3 EcoFund to promote adoption by developers and Dapps

02/27/2023 23:43 • Daily Digest • 85 views

On February 27th, Mantle Core, the second-tier network of Ethereum developed by BitDAO ecosystem, submitted a proposal at the governance forum of BitDAO on February 26th to establish a $200 million Web3 ecological fund, Mantle EcoFund, aimed at promoting the adoption of Mantle network by developers and Dapps.

The new proposal of BitDAO’s L2 network Mantle proposes to establish a $200 million Web3 ecological fund

Interpretation of the news:

Mantle Core, a second-tier network of Ethereum developed by the BitDAO ecosystem, has proposed the creation of a $200 million Web3 ecological fund named Mantle EcoFund. The aim of the fund is to encourage developers and decentralized applications (Dapps) to adopt the Mantle network. The proposal was submitted by Mantle Core at the governance forum of BitDAO on February 26th.

The Web3 EcoFund is designed to support the growth and development of decentralized applications on the Mantle network. As decentralized finance (DeFi) and blockchain technology gain more mainstream acceptance, Dapps are becoming increasingly popular. However, many developers still face barriers to entry, such as the high cost of development and the lack of resources to support their projects.

The Mantle EcoFund aims to address these challenges. With a fund of $200 million, the EcoFund will provide financial support to developers and Dapps willing to join the Mantle network. It will also offer technical assistance and other resources to enable developers to build their applications on the Mantle network. In this way, the fund will help accelerate the adoption of Mantle by developers and Dapps.

The Mantle Core team believes that the Web3 EcoFund will contribute to the wider adoption of Ethereum and other Ethereum-based networks. By creating a supportive environment for developers and Dapps, Mantle Core hopes to attract more participants to the ecosystem. This will help to drive innovation and create new use cases for blockchain technology.

The proposal by Mantle Core underscores the growing interest in Web3 infrastructure and decentralized applications. As more users adopt blockchain technology, there is an increasing need for infrastructure and support systems to encourage innovation and development. The Mantle EcoFund is a step in this direction and could set the standard for other networks to follow.

In conclusion, Mantle Core’s proposal for a $200 million Web3 EcoFund is a significant move towards promoting the adoption of the Mantle network by developers and Dapps. The fund will provide much-needed resources and support for developers, enabling them to build innovative applications on the Mantle network. The proposal highlights the increasing importance of Web3 infrastructure and the need for networks to support developers and accelerate innovation in the blockchain space.

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