Avalanche has recently unveiled its third major development of the year, following two significant announcements earlier. The newly revealed ecosystem support initiative aims to strengthen the project’s position against its competitors. But what exactly does this involve?
Introduction of infraBUIDL()
The program, cleverly named infraBUIDL(), mirrors the syntax used in programming languages for functions and classes. This initiative is designed to support contributors involved in the network’s growth. The Avalanche Foundation aims to provide direct assistance to developers through this program.
Program Goals and Incentives
The infraBUIDL() Program’s objective is to enhance the Avalanche ecosystem by financing infrastructure projects that improve both user and developer experiences. By offering direct and milestone-based retroactive grants, the program seeks to attract top-tier talent and foster a dedicated developer community working on the Avalanche Network.
Despite the increasing number of layer1, layer2, and layer3 networks offering smart contract infrastructure, many investors focus solely on token prices. However, Avalanche aims for long-term growth by enticing more developers to its network, thereby increasing its market share in the smart contract arena.
The Avalanche Foundation’s goal is to develop products in areas such as bridges, wallets, virtual machines, RPCs, indexers, and token engineering. This will enable large companies and users to adopt the Avalanche network alongside established competitors like Ethereum.
Concrete Takeaways for Users
Key Points for Users:
- infraBUIDL() aims to fund infrastructure projects, enhancing user and developer experience.
- Direct and milestone-based retroactive grants will attract talented developers.
- Avalanche focuses on long-term growth by expanding its developer base.
- Products in multiple areas like bridges and wallets will be developed.
Grayscale has launched an AVAX trust, and Franklin, a trillion-dollar entity, has integrated with the Avalanche network, generating significant buzz. However, amidst a declining Bitcoin market, AVAX’s price has also fallen. Once predicted to reach $29-$32, it now hovers around $23.
The overall market’s negative sentiment has amplified volatility, and AVAX’s double-digit annual inflation hasn’t helped. If the downtrend persists, new support levels could be found between $22.5 and $19.75. Conversely, closing above $26 would indicate a safer zone.
