The Stellar Development Foundation (SDF), a nonprofit organization, has launched a $100 million fund. It will provide incentives for developers to create products and utilities on the Soroban smart-contract platform.
1/2 SOROBAN NEWS:
SDF just announced a $100 million adoption fund created to support developers contributing to and building on Soroban 🎉 pic.twitter.com/kFr9FJJle7
— Stellar | #Meridian2022 | Rome, Italy | Oct 11-13 (@StellarOrg) October 12, 2022
Soroban was launched on Futurenet — a developer testnet.
The mainnet launch of the smart-contract platform is expected in the first half of 2023.
Participants in the first Sorobanathon rewards program, First Light, will provide code samples, guides and issue resolution on GitHub.
Thanks to fully Turing-complete smart contracts on WASM and Rust, developers will be able to create fully fledged DeFi protocols.
According to SDF vice president for Strategy Tomer Veller, Soroban will help address problems inherent in smart contracts on other networks, such as implementation difficulties and high costs.
In March, the nonprofit organization launched a $30 million fund to support early-stage projects using the eponymous blockchain.
Earlier in August, Grayscale’s asset-management arm did not rule out classifying Stellar as securities.
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