coincodex.com
Key takeaways
- Stellar is launching a $100m Adoption Fund to encourage developer activity on its new smart contracts platform, Soroban
- Soroban brings more potential use cases for the XLM ecosystem
- Developers can earn between $300 and $1500 for building a Soroban dApp on Stellar’s Futurenet test network
Stellar is launching a new initiative that will reward developers who are actively building dApps using the new Soroban smart contracts platform. The $100m Adoption Fund is a precursor to Soroban’s mainnet launch, aiming to incentivize growth for the ecosystem during its early stages.
Soroban is a Rust-based smart contract framework that unlocks new possibilities for development on the Stellar network. Rust, which is also the programming language used for Solana-based dApps, enables developers to create more complex applications when compared with Solidity, which is the programming language for Ethereum Virtual Machine.
Get ready for Sorbanathon: Sorobounty Spectacular! Between July 31 and August 25, you can earn awards for building decentralized applications (dApps) with @SorobanOfficial on the #Stellar network.
— Stellar (@StellarOrg) July 31, 2023
Interested? Learn more here ? https://t.co/5LDltbB6FH
Stellar will reward participants for building any kind of dApp on the Soroban platform, ranging from simplistic play-to-earn games to NFT projects. An important requirement for developers who are building is that they need to provide videos, graphics, and other supporting documents that can speed up the learning curve for developers in the future.
Soroban remains in its testing phase and has yet to be released on mainnet. After the $100m reward pool has been distributed to developers who build custom dApps on the Futurenet test network, Stellar will launch Sorobanothon: Road to Mainnet — the final preparations before Soroban officially goes live to users.
How much can developers earn for building dApps on Soroban?
Each eligible dApp launched on Stellar’s Futurenet during the initiative can earn up to $1,500 paid in XLM tokens. As mentioned, a key consideration for the Adoption Fund is the prevalence, clarity, and usefulness of the supporting documents. Since rewards will range from $300-$1,500 in value, this could play an important role in deciding the exact amount.
What is Stellar?
Stellar is a decentralized blockchain network that facilitates fast and affordable international money transfers. The native utility token, XLM, serves as a reliable intermediary between different currencies, providing on-demand liquidity that can drastically improve processing times and the associated costs for foreign exchange.
XLM price prediction
The current price of XLM is $0.1422, down 5.83% since August 1st. The CoinCodex price prediction algorithm expects XLM to make a full recovery over the next 30 days, rising mor than 10% to reach $0.1601 on September 2nd.