Yesterday, the Qtum Foundation announced the launch of a $1 million DeFi development fund. It will go to developers and teams looking to create scalable DeFi dApps.

Qtum joins the DeFi world

Qtum’s press release was posted yesterday on its blog, where it said that despite DeFi’s recent popularity, the industry still faces „several limitations and challenges.

In this sense, Qtum’s smart contract network has become the latest ecosystem to launch a strategy aimed at attracting Ethereum developers.

So it announced a $1 million (and up to $5 million) grant program to encourage innovation and development of DeFi in Qtum’s open source Blockchain.

And, importantly, Qtum has an advantage over the rest because of its compatibility with the Ethereum EVM. So, Qtum believes that its PoS host DeFi. That in comparison with networks like EOS, TRON and Waves, which have also made proposals to the Ethereum developers.

In the same line, you can read in the blog post that „after 3 years of technological iteration, Qtum has gradually developed a variety of unique technical and environmental features, which are totally suitable for building DeFi projects“.