DFINITY launches developer funding program worth $223 million

The nonprofit DFINITY Foundation has launched a program to fund the development of the Internet Computer ecosystem. $223.56 million has been allocated for developer grants.

1/ Announcing the CHF 200M Internet Computer Developer Ecosystem Program, a resource that will help finance the building of dapps, tooling, and infrastructure on the #InternetComputer. https://t.co/fN7UhkLd2a

— DFINITY Foundation (@dfinity) May 25, 2021

According to the press release, the Internet Computer Developer Ecosystem program targets developers of decentralized applications, tooling, and infrastructure solutions. A key aspect of the initiative is funding startups and companies without diluting founders’ equity.

The DFINITY Foundation has already begun accepting grant applications.

The organization stressed that the new program operates independently of the Beacon Fund of $14.5 million created in 2020. The venture fund invests in companies and individual entrepreneurs developing solutions based on the ‘Internet Computer’.

“Our goal is to support rethinking all systems and services in new forms using smart contracts on the infinite public blockchain, and nothing else,” said DFINITY founder Dominic Williams.

In May 2021, ICP — the Internet Computer governance token — entered the top seven cryptocurrencies by market capitalization.

Earlier, Coinbase Pro added the asset to its listing after the Mercury phase genesis block was launched on May 7.

Recall that in December 2020 the DFINITY project launched the Internet Computer mainnet. The blockchain was deployed on standardized ‘node machines’ handed over to the NNS.

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