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Avalanche Launches $290M Incentive Program to Boost Growth of Subnets
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![](https://en.ethereumworldnews.com/wp-content/uploads/2022/03/B6BD294B-AE0A-4844-940F-8CB9AD66C2E9-50x50.jpeg"></p><p>Quick take:</p><ul><li>The Avalanche Foundation has launched the ‘Avalanche Multiverse’</li><li>This is a $290 Million incentive program meant to increase the use and adoption of its ‘subnet’ feature</li><li>‘Subnets’ are a form of scaling on Avalanche through custom blockchains</li><li>Avalanche will kick off the program by collaborating with DeFi Kingdoms, Aave, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie and Securitize</li></ul><p>The Avalanche Foundation has announced the launch of the ‘Avalanche Multiverse’, which is an incentive program worth $290 million (up to 4 million AVAX), meant to accelerate the adoption and growth of the project’s ‘subnet’ functionality.</p><p>‘Subnets’ (or Subnetworks) on Avalanche are custom-built blockchains that cater to the various needs of unique projects. With Avalanche as the base layer, subnets are a form of scaling through the creation of separate instances of the same blockchain fully dedicated to a specific application. Subnets thus eliminate the fear that an application might be too large to the point of causing congestion on Avalanche.</p><p>The Director of the Avalanche Foundation, Emin Gün Sirer, expressed optimism that subnets would be the next growth engine in crypto. He said:</p><blockquote><p>Subnets will be the next growth engine in crypto, enabling novel functionality only possible with network-level control and open experimentation on a scale we haven’t yet seen,.</p><p>Smart contracts underpinned the amazing innovation in blockchains over the last five years, and no technology is better positioned to help carry on this tradition than Subnets</p></blockquote><p>The Avalanche Multiverse incentive program will be divided into at least six phases to support various projects in the program.</p><p>To start, the incentive program will focus ‘on supporting new ecosystems including, but not limited to, blockchain-enabled gaming, DeFi, NFTs and institutional use cases.’</p><p>The Avalanche Foundation will initially collaborate with DeFi Kingdoms, Aave, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie and Securitize.</p><p>With respect to the DeFi Kingdoms specific subnet, the Avalanche Foundation will provide $15 million worth of incentives in AVAX and CRYSTAL. The latter is a new token on Avalanche created by DeFi Kingdoms to complement its existing JEWEL token.</p><p>Furthermore, Ava Labs, will ‘collaborate with the Aave Companies, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie, Securitize and others to build the first horizontally-integrated blockchain specifically engineered for Institutional DeFi with native KYC functionality’.</p><p>This will, in turn, open the doors for regulated institutions to use Subnets to access and accelerate the adoption of DeFi.</p><p>Source: <a href="https://en.ethereumworldnews.com/avalanche-290m-incentive-program-to-boost-subnets/" target="_blank" rel="noopener">Read Full Article</a></p><div class=)
