Ambrosus Core Announces $10 Million Funding Initiative to Boost DeFi

SWITZERLAND, February 07, 2022 — Ambrosus Core, the technical foundation ofAmbrosus 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 is a fully operational Layer 1 EVM-compatible blockchain protocol providing scalability, zero-knowledge proof data security, and unique built-in data storage capacity. In order to support network growth and expand its user base, Ambrosus Core is launching a developers funding initiative.

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. As of today, the foundation is accepting applications for its grant program open to new contributors looking to build dApps, NFTs, and DAOs on AMB-NET. Any developer or entrepreneur can now apply for funding to create scalable solutions that enjoy seamless low-cost transactions on the secure network.

The seven-figure grant will be distributed 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 of the functional, dependable and competitive blockchain we’ve developed, now we want to help onboard new developers and assist them with building their new exciting projects on AMB-NET. 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 is a fully operational Layer-1 open-source scaling solution launched to bring mass adoption to Ethereum and EVM-compatible platforms.  It is the first decentralized and efficient Proof of Authority network built by industry experts in Switzerland. Learn more on their website.