Fhenix Unveils New Grant And Bounty Initiatives
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Fhenix, a Layer-2 network that uses Fully Homomorphic Encryption (FHE), has revealed that it has rolled out two new programs to boost the adoption of its flourishing ecosystem. The network introduced bounty and grant programs to offer support and incentives to developers and projects that want to launch on Fhenix L2.
The goal of the Fhenix Grant program is to allow developers to explore the potential of confidential computation through Fully Homomorphic Encryption.
The Grant Program Seeks To Encourage Developers Designing FHE Tools
The program is created specifically for developers building FHE tools or planning to roll out confidential apps on the blockchain. Fhenix stated that the program is now available for the developers.
Fhenix is looking for projects building new ideas and crafting important tools for managing data protected by Fully Homomorphic Encryption. According to Fhenix, applicants need to outline the main goals, key tasks, and project steps, and those qualified will receive the support needed for their solution.
A special grants page is now up on Fhenix.io, giving projects the green light to start applying. The Fhenix team will review grant applications thoroughly, and they may ask projects to provide more information. The grants program is focused on big projects that seek to improve blockchain confidentiality using FHE.
The Fhenix grant program is accompanied by a bounty program. This bounty program is created to assist lesser projects with clear goals. The bounty page available on Fhenix.io shows the most recent bounties along with the details of the task. The Fhenix team will strive to match the best applicants with each bounty, and successful applicants will earn the reward once the project is completed.
The program Aims To Help Developers Understand Fhenix’s EVM-compatible L2
The bounty and grant programs will enable more developers to understand its EVM-compatible Layer 2 and to create new ways to use FHE. This will highlight the many confidential applications utilizing FHE.
Last month, Fhenix revealed that it had secured $15 Million in a series A financing round. The round was spearheaded by Hack VC and saw participation from Stake Capital, Collider, GSR, Primitive, Amber Group, and Dao5. With this latest funding, the project has now raised $22 Million.
The firm seeks to use this capital to support the first phase of its open testnet called Helium. This initiative will allow developers to launch smart contracts on the Fhenix blockchain for the first time.
After raising money and having a successful test run, the project will now concentrate on testing and working on it until it is fully ready for launch.
