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.