In Brief:
- Launch of Retro9000 Round 2: The Avalanche Foundation introduces a new scoring system for its grant program, focusing on AVAX burned by projects.
- Deadline for Applications: Projects can apply until April 16, with performance tracking until April 30.
- Enhanced Incentives: New multipliers and referral bonuses aim to boost participation and reward innovative projects.
Avalanche Activates Round 2 of Retro9000 Grant Program
The Avalanche Foundation is ushering in the second round of its Retro9000 C-Chain grant program, featuring significant updates designed to foster genuine utility and innovation within its ecosystem. Differing fundamentally from its predecessor, this iteration abandons community voting, opting instead for a public leaderboard that tracks and ranks projects based on the amount of AVAX they burn through transaction fees.
Objective and Ranking Adjustments
Steering away from prior methodologies, the Foundation has revamped how participants are assessed and rewarded. The primary criterion now is the AVAX burned by projects, which directly influences their rank on the newly introduced public leaderboard. This approach prioritizes actual usage and engagement, setting aside $40 million to be distributed among the top 40 projects.
Mehmet Dogan, the Program Manager at the Avalanche Foundation, emphasizes the shift in focus, stating, “Builders who execute and generate real usage from day one will drive growth on Avalanche.” This change is geared towards ensuring that the program incentives align closely with the Foundation’s objective of promoting robust and active development on the platform.
Incentives for Builders and Community Engagement
Besides direct funding, the program introduces a referral system, rewarding participants with up to $3,000 in AVAX for each new project they successfully introduce to the platform. The grant allocation is regulated to ensure fairness: a single project can claim no more than 25% of the monthly prize pool or exceed a lifetime maximum of $200,000, and they must burn at least $500 in AVAX to be eligible for any reward.
New Multipliers and Opportunities
In this round, strategic multipliers have been integrated to enhance competition. Projects achieving Stage 2 MVP status in the Build Games program receive a 10x boost, and new entrants to the C-Chain are awarded a 5x multiplier. These adjustments aim to level the playing field for newcomers while rewarding existing participants who continue to innovate and progress.
Projects that participated in Round 1 are automatically enrolled in Round 2, and further multipliers may be rolled out in future iterations to spotlight emerging categories like gaming or SocialFi.
Background on the Build Games Program
Originating from the Build Games initiative—a six-week online competition designed to stimulate creation within the Avalanche environment—the program plays a crucial role. It not only provides mentorship and support to developers but also offers visibility and direct financial incentives. With a prize pool of $1 million, the program facilitates early-stage projects in solidifying their presence in the market.
As Avalanche’s network sees unprecedented levels of activity, with daily transactions on the C-Chain topping 2.5 million, such initiatives are pivotal in leveraging and sustaining growth by transforming innovative ideas into practical, real-world applications.