Avalanche has recently unveiled its third major development of the year, following two significant announcements earlier. The newly revealed ecosystem support initiative, known as infraBUIDL(), aims to strengthen the project’s position against its competitors. But what exactly does this involve?
Introduction of infraBUIDL()
The infraBUIDL() program, cleverly named to mirror programming syntax for functions and classes, is designed to support contributors involved in the network’s growth. The Avalanche Foundation aims to provide direct assistance to developers through this innovative initiative.
Program Goals and Incentives
The primary objective of the infraBUIDL() Program is to enhance the Avalanche ecosystem by financing infrastructure projects that improve both user and developer experiences. The program offers:
- Direct retroactive grants
- Milestone-based grants
By providing these incentives, the program seeks to attract top-tier talent and foster a dedicated developer community within the Avalanche Network. Despite the increasing number of layer1, layer2, and layer3 networks offering smart contract infrastructure, many investors focus solely on token prices. Avalanche, however, is focused on long-term growth by enticing more developers to its network, thereby increasing its market share in the smart contract arena.
The Avalanche Foundation aims to develop products in areas such as:
- Bridges
- Wallets
- Virtual machines
- RPCs (Remote Procedure Calls)
- Indexers
- Token engineering
This strategic development will enable large companies and users to adopt the Avalanche network alongside established competitors like Ethereum.
Concrete Takeaways for Users
- infraBUIDL() aims to fund infrastructure projects, enhancing user and developer experience.
- Direct and milestone-based retroactive grants will attract talented developers.
- Avalanche focuses on long-term growth by expanding its developer base.
- Products in multiple areas like bridges and wallets will be developed.
Grayscale has launched an AVAX trust, and Franklin, a trillion-dollar entity, has integrated with the Avalanche network, generating significant buzz. However, amidst a declining Bitcoin market, AVAX’s price has also fallen. Once predicted to reach $29-$32, it now hovers around $23.
The overall market’s negative sentiment has amplified volatility, and AVAX’s double-digit annual inflation hasn’t helped. If the downtrend persists, new support levels could be found between $22.5 and $19.75. Conversely, closing above $26 would indicate a safer zone.
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