EOS Network Foundation Will Allocate $20M to Support Projects

The EOS Network Foundation (ENF) has announced an investment of $20 million in applications and gaming products on the EOS network following the launch of the Ethereum Virtual Machine (EVM) on April 14th.

ENF CEO Yves La Rose claims that the on-chain solution will provide speeds 25 times faster than Avalanche and three times faster than Solana and BNB Chain.

He has further stated:

“With $20 million for EVM projects, we expect a massive influx of developers who want to take advantage of funding opportunities.”

The ENF held an Initial Coin Offering (ICO) in 2018, raising more than $4 billion, a record amount for the industry. In February 2023, the BitDAO community proposed the creation of a $200 million fund to support ecosystem projects.