Web3 Technology Speeds Up Mainstream and Institutional Acceptance with a Fresh $5 Million Investment Fund in the Field of Alchemy
In a significant move to accelerate the adoption of Web3 and institutional blockchain use, Alchemy has announced the launch of the "Everyone Onchain Fund." This new initiative aims to provide critical infrastructure and support mechanisms to developers, enterprises, and institutions, helping them overcome barriers to blockchain scaling and onboarding.
The fund offers several key benefits to its recipients:
1. **Gas and Compute Credits:** By subsidizing gas fees and computational costs, the fund lowers the entry barrier for developers and projects, encouraging more onchain activity without the immediate pressure of high fees.
2. **Rollup Infrastructure:** The fund supports the deployment or integration of rollup infrastructure, which are layer-2 scaling solutions that bundle transactions offchain and submit proofs onchain, thereby facilitating higher throughput and lower costs for Web3 applications.
3. **Smart Wallet Integration:** Integrating smart wallet technologies helps projects provide seamless user onboarding and better security. These wallets enable more sophisticated user account management, including features like meta-transactions, where users can execute transactions without holding ETH for gas.
4. **Institutional Enablement:** The fund targets institutional players by building compliant onramps and infrastructure that align with traditional finance needs, such as fiat-crypto rails and regulatory compliance, thus encouraging large-scale investment and adoption.
Steven Smith, VP of Protocol and Applied Research at Tools for Humanity, commented on the relationship between Alchemy and World Chain, expressing his excitement about continuing to innovate together. Smith believes that the relationship between the two has already accomplished the goal of reducing friction in using blockchain applications.
The fund will initially support projects based on the OP Stack and Arbitrum Orbit ecosystems, targeting developers building on Alchemy Rollups and Account Kit. Teams will receive up to $10,000 in gas credits and $20,000 in compute credits, as well as enterprise-grade rollup infrastructure. Additionally, Alchemy provides free smart wallet integration as part of the support.
Nikil Viswanathan, co-founder and CEO of Alchemy, commented on the announcement, stating that he wants the relationship between Alchemy and World Chain to serve as a model for industry support. World Network, one of the early adopters of Alchemy's integrated solutions, is a contributor to World Chain.
The "Everyone Onchain Fund" is part of Alchemy's ongoing efforts to support mainstream Web3 adoption and institutional adoption. By providing crucial infrastructure and support mechanisms, the fund aims to make blockchain technology more accessible and user-friendly, thereby fostering broader Web3 growth and catalyzing the migration of both users and institutions onchain.
[1] [Alchemy's Continued Infrastructure Innovations](URL) [2] [Core Wallet's Direct Bank and Card Onramps](URL) [3] [Seamless Onchain Access](URL)
- The "Everyone Onchain Fund" by Alchemy offers web3 developers, enterprises, and institutions resources like gas and compute credits, rollup infrastructure, smart wallet integration, and institutional enablement to accelerate their onchain activities.
- By subsidizing gas fees and computational costs, the "Everyone Onchain Fund" aims to make blockchain finance more accessible, encouraging onchain activity and reducing barriers to scale and onboarding.
- In the tech sphere, the launch of the "Everyone Onchain Fund" signifies a significant step towards fostering technological advancement in Web3, as Alchemy continues to work towards mainstream adoption and institutional blockchain use.
