Do you have an idea for a modern blockchain application? You can get $100,000 for development.

The blockchain ecosystem is offering $100,000 in grants to developers with big ideas – incubating early-stage projects that could change the crypto world in the future.

Callisto Network launched the We Fund You program in February 2022, and selected projects also benefit from technical support.

After countless applications, four startups received the grant, and the EVM-compatible network is now pursuing these promising projects.

One of them is GAT Network, which has requested $50,000 in funding to create a next generation crypto market and NFT toolkit.

This team of five developers said they were attracted to the Callisto network because of its low gas fees and high transaction speeds – not least because it “opens the door to interesting GameFi ideas that have been shelved due to high cost” in competing networks.

Elsewhere, has requested $25,000 from this ecosystem, as well as technical and marketing support. This is an important milestone as it is the first NFT project launched on the Callisto network.

Securing such funding can also open doors to new opportunities. A PowerCar developer joined Callisto Enterprise to work on smart contracts, and his new employer also purchased the project.

Support young developers
Callisto Network also says it is committed to supporting passionate developers taking their first steps in this rapidly growing industry.

Patrick Cermak and Mojmir Zaleshak, aged just 16 and 17, are the youngest developers to receive a $25,000 grant from We Fund You to help people their age improve their investment skills.

Teramite will soon offer courses and presentations that will teach young people about cryptography, encryption, programming, investing, and math—resources that can be used in schools and community gatherings. And given that such subjects are not always taught in schools, this can be extremely valuable in preventing costly teenage mistakes.

This content will be created in the coming months along with a social media and website presence. The launch of Teramite is scheduled for the fourth quarter of 2022.

Rounding out the list of participants is We Fund You Soy Finance, a DeFi platform that won an award for developing an auto-connect feature for high yield farmers.

We bring great ideas to life
We Fund You is currently preparing for the next round, in which even more developers will be invited to apply for funding. Callisto Network intends to update this initiative quarterly going forward, which means there will be a constant stream of new innovative projects in its development.

Vladimir Venzalek, CEO of Callisto Network, told Cointelegraph that “Over the past few years, it has become clear that a number of projects managed to get into the top 100, mainly due to their marketing budget – at the same time, many developers have great ideas, but lack financial resources. resources. Callisto Enterprise wants to use these financial and human resources to support talented developers.”

Because the blockchain industry is developing so fast, it lacks talent and many companies struggle to launch innovative concepts. Callisto Network opens the door for those who are still learning how the sector works and enjoying a front row seat when innovation happens.

It is important to note that Callisto takes a security-focused approach and the project has its own security department, consisting of a team of decentralized auditors. In addition to studying over 400 smart contracts, its experts have also contributed to the improvement of Ethereum (ETH), Ethereum Classic (ETC), EOS and other chains and projects.

Source: CoinTelegraph