Layer 1 Blockchain Supra Launches dApp Contest With $100M Ecosystem Fund

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Fully vertically integrated blockchain Supra has announced a $100M fund to kickstart ecosystem development. The fund has been designed to incentivize third-party developers to create and deploy applications on the Layer 1 chain, which boasts multi-VM support.

Dubbed the Super dApp Showdown, the contest has been designed in the manner of a TV game show, complete with unique seasons and a panel of noteworthy judges tasked with identifying the ultimate winners. The maiden season of Super dApp Showdown is set to commence in August and will see teams compete for a share of the $100M prize fund.

From the top Web3 champs to new challengers, get ready for the ultimate arena -- The Super dApp Showdown.https://t.co/HxC3DbwgNYWe're taking blockchain to the next level with full vertical integration of all core services and multiple VMs into one powerful Layer-1 for Super… pic.twitter.com/lsQbtvVTB6

— Supra (@SUPRA_Labs) June 13, 2024

Bringing Top Talent to the Table

Web3 developers entering the industry are faced with the difficult task of picking the blockchain ecosystem in which they wish to operate. The architects of L1 and L2 chains, meanwhile, are competing to attract developers who can create applications with genuine utility that will attract real users. Through incubation and grant programs, blockchains can incentivize developers to build on their network while providing the network and investor introductions to help these teams realize their full potential.

In the case of Super dApp Showdown, the contest judges will comprise Supra as well as representatives from Google Cloud, Republic Crypto, Hashkey Capital, and the crypto-focused reality show Killer Whales. It’s an eclectic mix of judges who will hopefully be appraising an equally eclectic bunch of dApps spanning use cases ranging from GameFi to DeFi.

According to Supra CEO Joshua Tobkin, “Attracting the right builders and founders requires a combination of capital and exposure. Along with access to Supra's $100 million ecosystem fund and 500k verified token holders, projects will also have the chance to get featured on Killer Whales, benefiting from their exceptional team, high-quality production, and significant visibility.”

With a potential reach of 600M viewers, there’s scope for Killer Whales to shine a spotlight on Supra while also raising the profile of the successful dApp developer contestants.

The Future Is Supra

Supra has been designed as an all-round L1 that can outcompete older smart contract chains such as Ethereum. It comes equipped with all the tools and features that developers and users expect from so-called next generation chains including reliable oracles, interoperability, and verifiable randomness – something ideal for devs creating gaming applications.

While every modern blockchain has been designed with scalability paramount, Supra has benchmarks that are impressive, not just by web3 standards, but by those of traditional payment methods too. Supra’s Moonshot consensus mechanism enables throughput of over 500K tps with 500-millisecond optimistic finality and 1.5-2 second full finality.

These sort of benchmarks suggest that one of the best use cases for Supra may be in the creation of high volume payment applications. But the devs who sign up for season one of the Super dApp Showdown may see things differently. All will be revealed when the winners of the inaugural Supra contest showcase their creations on Killer Whales later this year.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.