The Avalanche Foundation has announced a substantial $40 million grant to support the creation of layer-1 blockchains on its network, as reported by Cointelegraph. This initiative, unveiled on September 26, is part of a new retroactive grant program named ‘Retro9000,’ designed to coincide with the major upgrade, ‘Avalanche9000.’ This upgrade aims to simplify and reduce the costs associated with developing L1 blockchains.

An Avalanche spokesperson described the Avalanche9000 upgrade as the most significant in the network’s history, aligning closely with the original vision articulated in its white paper. The spokesperson emphasized that the grant program is intended to cultivate a robust pipeline of developers who can leverage innovative technical solutions to expand their products and reach a wider audience.

The Retro9000 grant program will reward developers who build L1 chains and essential tools on the Avalanche9000 testnet. Submissions will be ranked on a public leaderboard, with community votes influencing the distribution of these retroactive grants. This approach encourages developers to engage with the community, publicly showcase their work, and test their projects to qualify for rewards.

Funded by the Avalanche Foundation, this grant initiative aims to incentivize the development and testing of foundational elements within the Avalanche ecosystem. Luigi D’Onorio DeMeo, COO of Ava Labs, remarked that the Avalanche9000 upgrade is the culmination of years of development, and the Retro9000 program is designed to bootstrap a vibrant L1 ecosystem while providing early-stage developers with compelling incentives to build their solutions.

The spokesperson also highlighted the critical role of community participation in the grant distribution process. Although the Avalanche Foundation will have the final say in awarding grants, community votes and leaderboard rankings will play significant roles in determining which projects receive funding. This initiative marks just the beginning of a series of programs aimed at ensuring the successful rollout of the Avalanche9000 upgrade.