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Interchain Foundation Plans to Spend $40 Million on Cosmos Development in 2023

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It is reported that the Interchain Foundation (ICF), a foundation that supports the cross-chain project Cosmos development and ecological construction, release…

Interchain Foundation Plans to Spend $40 Million on Cosmos Development in 2023

It is reported that the Interchain Foundation (ICF), a foundation that supports the cross-chain project Cosmos development and ecological construction, released its expenditure budget for 2023. It is estimated that it will spend about $40 million in 2023 to fund different engineering teams to develop and maintain the core stack of Interchain, including supporting projects that promote adoption and use cases. Key funding areas in 2023 include consensus, interoperability, App framework and client, Cosmos Hub, security and testing framework, DevRel, communication and growth. ICF is currently in the final stage of finalizing key contracts in 2023.

Cosmos Ecological Foundation ICF plans to provide about US $40 million to fund the project team this year

Interpretation of the news:


The Interchain Foundation (ICF) has recently released its expenditure budget for 2023, indicating that it plans to spend around $40 million on the development and ecological construction of the cross-chain project Cosmos. The foundation aims to fund various engineering teams that will be responsible for developing and maintaining the core stack of Interchain, as well as supporting projects that promote adoption and use cases.

According to the ICF, key funding areas for 2023 will include consensus, interoperability, App framework and client, Cosmos Hub, security and testing framework, DevRel, communication, and growth. These areas are critical to the long-term success of Cosmos as a blockchain ecosystem, and the ICF hopes that by investing in these areas, it will be able to achieve its goals of creating a scalable, interoperable, and sustainable blockchain ecosystem.

One of the most significant areas of funding for 2023 will be the Cosmos Hub, which is the central hub of the Cosmos ecosystem. The ICF plans to invest in the development of the Hub, as well as in governance models and community-building initiatives that will help to ensure the long-term success of the ecosystem.

Another key area of funding will be DevRel, which stands for Developer Relations. The ICF aims to build a robust community of developers who can build on the Cosmos ecosystem and contribute to its growth and sustainability. This investment in DevRel will help to ensure that there is a steady flow of talented developers working on the ecosystem, which is essential for its long-term success.

Overall, the ICF’s expenditure budget for 2023 signals a significant commitment to the development and growth of the Cosmos ecosystem. By investing in key areas such as consensus, interoperability, and developer relations, the ICF hopes to create a blockchain ecosystem that is scalable, sustainable, and capable of driving real-world adoption and use cases.

Keyword: Cross-chain project

In conclusion, the Interchain Foundation’s announcement regarding its expenditure budget for 2023 signals an ambitious plan to make significant strides in achieving the goals of the Cosmos ecosystem. With a focus on cross-chain projects, the ICF’s investment in key areas, such as consensus and interoperability, will help to foster a blockchain ecosystem that is scalable, sustainable, and can support real-world use cases.

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