HECO Chain Launches Grant Program to Support Developer Growth in Ecosystem

LONDON, March 25, 2021 /PRNewswire/ -- HECO Chain, the decentralized and cost efficient public chain, has announced the launch of its Round One of Grants in order to subsidize community development globally. The total Grant Pool for Round One totals $60,000 US dollars and intends to financially support developers' creative ideas and projects in the early-stage with the goal of helping them to further develop better technology and more usable products in the HECO ecosystem.

HECO is an energy-efficient and decentralized public chain that is fully compatible with the EVM and offers developers a low-cost chain environment to operate decentralized smart contract application programs (DApps) and store digital assets.

The project application channel will be open at 20:00 (GMT+8)., March 16th, 2021 (GMT+8) and the initial bonus pool of this round of Grant amounts to $60,000. Developers from across the world can submit their new projects developed on the HECOhost site and test site through HackerLink. All the projects submitted through HackerLink need to be registered on the smart contract.

Developer Focused

HECO's aim is to efficiently integrate users, assets and decentralized applications together, as well as lower the bar for app implementation and upgrading substantially. The intention is that both users and developers can enjoy the high efficiency and low-cost chain experience.

HECO is firstly developer focused and offers builders the following opportunities:

HECO is an open, decentralized network that maintains the security of the network and assets. It offers EVM programmability, smart contract compatibility and reduces the development and maintenance costs.

Additionally, there are meta-transactions with abated service fee to further reduce the on-chain cost of users and developers and a HPoS consensus mechanism as well as a 3-seconds interval to accelerate consensus. Finally, there is cross-chain assets transfer and optimized assets cross-chain experience.

HECO is divided into four phases. These are known as: Tinder, Spark, Flame and Blaze, and describe the roadmap for the chain. Since its origin with the spark phase, HECO has already seen huge growth in its locked up value.

HECO's total locked-up assets exceeded $6.3 Billion

Owing to the strong support from HECO to developers, a large number of high-quality DeFi projects and developers are attracted to deploy protocols at HECO to stimulate a ceaseless trend of increase of the total amount of locked-up assets on the HECO chain.

As of March 24th , the total amount of locked-up assets on the HECO chain has been as high as $6.35 billion with the average daily transaction volume on the chain exceeding $2.9 million.

The number of non-zero addresses is over 2.8 million and the total number of protocols deployed on the chain are more than 100. The top decentralized exchange MDEX on the HECO chain has a cumulative amount of $2.29 billion in locked-up assets and a 24h-transaction volume of $3.81 billion — Being the first in global DEX rankings of CoinGecko.   

Apart from MDEX, the performance of some top mining projects on the HECO chain is also very eye-catching. For example, the leveraged income aggregator Converter on the HECO chain has the TVL exceeding $120 million within two hours of mining. The single-coin mining revenue platform CoinWind V2's total locked-up asset volume of 200 million USD, and V1+V2 version exceeded 500 million USD within 90 minutes after launch. 

What's more than just the eye-catching data on the chain , is the wealth effect created by HECO being even more attractive. 

The first session of the " Creator Plan " attracted hundreds of applications. In the end, five projects including the Basis Gold, FilDA, Channels, EarnDefi and Beeswap were selected as the Top 5.

SOURCE HECO Chain