HomeNEWSDusk Network launches ecosystem fund to support developers

Dusk Network launches ecosystem fund to support developers


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Dusk Network, a privacy blockchain for financial applications, has announced an ecosystem fund worth $10 million. The network made the revelation on Wednesday via an official blog post. According to the post, the network disclosed that it has set aside 15 million which is worth about $10 million to support developers who are interested in building on Dusk. 

More so, the strategic fund is channeled towards the growth of Dusk Network with the aim of attracting and supporting project teams to create a sustainable, thriving, and well-rounded ecosystem. Meanwhile, it is worth mentioning that the network launched the ecosystem fund shortly after it released details of its Incentivized Testnet. 

In January, Dusk Network initiated one of the last stages before the launching of its mainnet; Incentivized Testnet. With the initiative, the project team launched an incentivizing model that will see people test the efficiency of the network and earn awesome rewards. Then, the program aided the project team to determine if the Dusk Network actually worked as intended. 

More so, around 2023, the team carried out the first phase of the Incentivized Testnet, a project that enjoyed significant success in terms of participation and how it helped Dusk Network to determine the next line of action. Now, the project team will be counting on the ecosystem fund to advance the growth of the network. 

Insight into the Details of the Dusk Ecosystem Fund 

However, in the announcement, Dusk highlighted some prominent details about the ecosystem fund. The project team stated that it structured the initiative in phases, ensuring that it is in accordance with what is most beneficial to the Dusk ecosystem. 

Furthermore, the firm explained that it will prioritize teams that can work on archiver and prover, infrastructure, two-way bridge, and decentralized exchange. Thereafter, Dusk Network will open up applications for other important ecosystem enhancements.

While providing details about the criteria for application, the network disclosed that it will only accept builders with vast experience. Nevertheless, Dusk Network emphasized that it will accept applicants with experience as a team member or project lead. Likewise, the firm revealed that it will embrace applications from established teams with a product they’d like to expand to new chains.

Lastly, in a bid to encourage project teams to build on Dusk Network, the firm in the announcement explained some of the benefits of its privacy blockchain. The project revealed that the network is working in compliance with global standards and it offers leading innovations to help builders design an efficient tool.

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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