Proof-of-work blockchain Kadena has launched a $100 million grant program to encourage Web3 development on its platform, potentially opening the door to more use cases for the layer-1 protocol.
The grant program is an extension of Kadena Eco, an initiative designed to grow the Kadena ecosystem through the development of gaming, metaverse, nonfungible tokens , decentralized finance and Web3 projects. Stuart Popejoy, Kadena’s founder and CEO, said his firm will be deploying “treasury resources” to strengthen the long-term sustainability of the protocol.
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