Ethereum competitor Near launches $800M developer fund as DeFi competition heats up By Cointelegraph

Good contract ecosystem Close to Protocol has earmarked $800 million for brand spanking new funding initiatives aimed toward rising its decentralized finance capabilities, providing the newest proof that the extremely profitable DeFi market remains to be in its infancy.

The brand new funding, which incorporates the $350 million grants program introduced by Proximity Labs final week, offers ecosystem builders added incentive to create new product choices on Close to, the corporate introduced Monday.