The Avalanche Foundation has launched Avalanche Multiverse, an up to USD290 million incentive programme focused on accelerating the adoption and growth of its novel “subnet” functionality, which enables a rich ecosystem of scalable app-specific blockchains.
Initially, the programme is focused on supporting new ecosystems including, but not limited to, blockchain-enabled gaming, DeFi, NFTs and institutional use cases.
Avalanche Multiverse will bring a DeFi Kingdoms specific Subnet or ‘appchain’ with a combined maximum of USD15 millionof incentives for $AVAX and $CRYSTAL, a new Avalanche-native token created by DeFi Kingdoms to complement its existing $JEWEL token. Details surrounding the allocation of rewards will be forthcoming.
Additionally, Ava Labs, a core developer of the Avalanche client, will collaborate with the Aave Companies, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie, Securitize and others to build the first horizontally-integrated blockchain specifically engineered for Institutional DeFi with native KYC functionality. This will enable regulated institutions to leverage the power of Subnets to access DeFi primitives at scale and accelerate the institutional adoption of DeFi.
