EOS Network Foundation announced a $20 million capital fund to back dApps and GameFi projects to build upon its Ethereum Virtual Machine (EVM), whose launch is slated for April 14.
Following the announcement by the EOS Network Foundation, the value of its cryptocurrency token, $EOS, increased by 10%. As a result, $EOS is currently trading at approximately $1.2, according to CoinMarketCap.
Yves La Rose, CEO of EOS Network Foundation, tweeted, “In addition to being BY FAR the fastest EVM, EOS EVM will also have the most funding available for builders.”
However, the launch of EVM was already announced earlier this month.
According to him, $EOS EVM is claimed to be 25x faster than AVAX and 3x faster than Solana or BNB, its formidable competitors.
With the $20 million capital, the foundation expects “a massive influx of developers who want to take advantage of the funding opportunities”.
ENV has committed $20M intending to make EOS EVM the dominant platform in the market. The goal is to entice top developers and teams to build on EOS EVM by offering them strong financial incentives.
