Algorand Foundation Announces $10 Million Grant Focused on EVM Compatibility as Algorand Adoption Accelerates

DENVER, Feb. 18, 2022 /PRNewswire/ -- The Algorand Foundation today announced a $10,000,000 USD SupaGrant to be rewarded among teams that will explore and accelerate the technical work needed to deliver EVM compatibility on Algorand. This will enable those innovators looking to leverage Algorand's high performance, sustainable and cost effective blockchain but are already accustomed to building on EVM.

Research and developer teams will be expected to submit their proposals no later than 18 March, 2022 outlining the methodology of their research, estimated costs and timeline through the call for proposals here. Multiple teams may be chosen with the reward being split among the competing teams.

"Algorand believes in a multi-chain world and this SupaGrant will move us towards that inevitability," said Staci Warden, CEO Algorand Foundation. "Running smart contracts written for Ethereum on Algorand eliminates the barriers for popular DeFi protocols and NFT projects to serve multiple chains while significantly decreasing the costs to those who participate. We believe that incentivizing experienced developer teams to research and build long lasting fundamental technology for Algorand will benefit the entire blockchain community."

Research and developer teams participating in the SupaGrant are welcome to use any technology of their choosing to achieve EVM compatibility.

About Algorand's SupaGrants Program

Algorand's SupaGrant is a supercharged grant program that targets experienced R&D teams and organizations to research or build secure and high-quality solutions for the Algorand ecosystem.

The Algorand Foundation seeks to support these projects financially on a long-term basis, aiding them in their research costs, marketing, and other support they might need.

About the Algorand Foundation

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.

Contact: Ditto PR, algorand@dittopr.co 

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