Everscale (ex FreeTON) DeFi Alliance has launched the Everscale Grants program. The program was created with the aim of supporting cutting-edge IT startups with financial and professional resources.
Everscale Grants has earmarked 15 million EVERs for distribution among the companies that get accepted into the program
The launch of the Grants program comes on the heels of a busy November for the Everscale network. Early on in the month the network, which previously was called FreeTON, announced it would be rebranding into Everscale. The change was made to reflect the significant progress that has been on Everscale its correlated ecosystem, relative to where it had started out as FreeTON.
FreeTON was started when the Telegram Open Network halted its development and became open source. When the Telegram project was made open source a group of enthusiasts, which eventually became FreeTON, came together to try to realize the potential that the network had.
A bit further down the road, however, community members and developers, cognizant of the strides made in network development, determined that the project had become something greater than it was before and that it deserved a new name and image to reflect the strides that had been made. The name Everscale was chosen as it reflects one of the network’s most advantageous features, namely, its infinite scalability.
Explaining the reasoning behind FreeTON's rebrand to Everscale
The whole Everscale project is just over a couple of years old, but the rebranding has come as excitement is building up for some of the network’s new and upcoming products. Recently, Everscale developers Broxus announced that the network Bridge would be activating its DAO protocol, making it the first DAO-controlled bridge of its kind. The Bridge links the Everscale network to other blockchains and tokens, offering users layer-2 access to the Ethereum network with significantly cheaper and faster transactions, along with access to the Polygon, BSC and Fantom networks.
Now Everscale has more news, this time of particular interest to those who have not already joined into the ecosystem. Everscale (ex FreeTON) DeFi Alliance has launched the Everscale Grants program which will provide financial and professional resources to promising tech startups capable of contributing to the development of the network’s ecosystem.
Applying for the Everscale Grants program
The Everscale Grants program is ideal for smaller startups that have clear vision and a promising product but could use more resources to get them over the finish line. The grants program will supply qualifying applicants with the financial resources they need to complete an MVP or similar significant milestone. In order to do that, DeFi Alliance has allocated 15 million EVERs, the native token of the Everscale ecosystem, for distribution among the companies that get accepted into the program.
Grant winners will also be offered professional guidance and support to aid in their development. Everscale developers will share their experience and expertise in integrating new projects into a blockchain and the community will also offer support in terms of marketing the new platforms and projects.
One of the biggest potential draws to the program, however, is the chance it provides to startups for ground-floor integration into one of DeFi’s up-and-coming platforms. The Everscale network is still in its early stages of development, but the ecosystem is already robust and network developers are hard at work to add more. Currently, Everscale hosts a constellation of products that power the network’s economy, including the above-mentioned Bridge, a Broxus powered DEX, a dedicated iOS, Android and desktop compatible Crystal Wallet and much more.
As of pixel time, Everscale Grants already has 10 applicants in the advanced stages of integration. Of those 10, 7 are in the GameFi/NFT field and the remaining 3 are DeFi startups. Nonetheless, the Grants program is continuing its active search for qualified candidates. Prospective applicants can find guidelines for the grant program here and can apply here.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.