Core Foundation, the team behind the Core blockchain, is ramping up its efforts to expand the BTCfi ecosystem with the launch of the ‘Core Commit program’.
Aimed at attracting developers to build decentralized applications (dApps) on its Proof of Stake (PoS) network, the three-month initiative offers mentorship, resources, and access to venture capital.
The program includes backing from Core Ventures, alongside a network of investors such as Google, UTXO, and Foresight Ventures.
Developers will be incentivized with $75,000 worth of CORE tokens, awarded monthly based on project progress and milestones.
Applications for the program open on October 14, 2024, with up to 10 teams selected for the inaugural cohort. Participants will receive expert guidance from mentors like Mike Silagadze of Etherfi and BitGo’s Thomas Chen.
Rich Rines, Core Contributor at Core Foundation, said: “Core Commit is designed to empower developers by providing the resources and mentorship they need to build impactful dApps on Core.”
“As the BTCfi ecosystem on Core grows, we see this program as an essential step in driving sustainable development across the chain. By offering direct access to mentorship from industry leaders and venture capital, we are ensuring that builders have everything they need to succeed and scale their projects.”
Since launching its Non-Custodial Bitcoin Staking feature in April 2024, Core has seen substantial traction, with 5,000 BTC staked and a total value locked (TVL) of $400 million.
Core Commit represents the next step in scaling the platform’s DeFi, staking, and NFT ecosystems, while offering developers a platform to create without relinquishing custody of their assets.
The first cohort will run through February 2025, culminating in a Demo Day where developers may secure further investment to scale their projects.
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