The grant program of CrossFi Foundation awards $50 million in XFI and MPX, two CrossFi Chain’s native coins, to active users of the products of Cross Finance ecosystem. The grant program is targeted at bringing together all users of CrossFi technology in order to create and promote products that could facilitate an interaction between cryptocurrencies and traditional financial systems.
The program encompasses four primary categories of grants for users, ambassadors, developers, testers and validators, with rewards for testing and developing solutions on CrossFi blockchain, for subscribing on CrossFi’s social networks and participating in promotional campaigns, etc.
Grants are aimed at rewarding users who use CrossFi Chain-based solutions and test new products. Creators and distributors are encouraged to create useful content about the capabilities of the Cross Finance ecosystem and its products, such as the CrossFi APP, which offers fast and cheap cross-border payments, banking cards, fiat accounts, cross-chain transfers. Finally, the CrossFi Foundation encourages developers to build services and decentralized applications (dApps) on the CrossFi EVM-compatible blockchain and motivate users to act as validators in the CrossFi Chain. Details of the grant program are published on the CrossFi Foundation’s website.
As part of the grant program, on November 2, the CrossFi Foundation launched an airdrop of $100,000 in MPX coins. To take part in it, users need to go to the airdrop Taplink, complete all tasks, visit the XFI console to create a wallet and fill in the Airdrop form.
Results will be announced on December 2, 2023. During November, CrossFi Foundation will launch the remaining programs for ambassadors, developers, and validators.
According to the CrossFi Foundation’s spokesperson, it welcomes users who are ready to experiment with solutions based on CrossFi Chain, propose their own solutions and build decentralized applications. “Community is the main value of any decentralized ecosystem. The grant program will help accelerate the creation of in-demand fintech products and clearly demonstrate to millions of users how cryptocurrency and traditional finance can coexist in one environment,” he said.
The CrossFi Chain is a decentralized network with a modular architecture based on the Byzantine Fault Tolerant (BFT) consensus protocol Tendermint. The blockchain uses two coins, with XFI serving as a medium of exchange, while MPX acting as the unit of minting power to generate XFI.
Grants for blockchain developers and users are an effective tool for growing communities around decentralized ecosystems and play a pivotal role in fostering innovation and development. The CrossFi Foundation’s $50 million grant program aims to unite active users in order to create and promote products and solutions that bring together cryptocurrencies and traditional finances and make financial opportunities more accessible for everyone, ensuring the continuous evolution of the blockchain industry.
