September 20th, 2022 - We launched SupaGrants last year to identify gaps in the Algorand ecosystem and provide avenues for development and growth. With the sunset of the program, we wanted to provide you – the AlgoFam – with a recap of the tremendous progress in interoperability and ecosystem growth this investment enabled and highlight some of the SupaGrants recipients.
- EVM Compatibility: The novel L2 protocol Milkomeda, created with grant winner dcSpark, launched its A1 Rollup through the Algorand Public TestNet, which enables thousands of Ethereum developers to build on non-EVM blockchains that were previously inaccessible by streamlining the process for developers to create smart contracts and dApps.
- Bridges: Algorand Foundation developed a bridge program to drive more users to the platform. As part of this effort, London Bridge enables transparent and secure transfers between Algorand and Ethereum using hardware enclaves and state proofs.
- Oracle: Algoracle, Algorand’s oracle network, was launched and is now powering dApps created in the Algorand ecosystem.
- IDO Launchpad: Thinkin, a fully decentralized Web3 social platform, was built on the Algorand blockchain. Users can engage with a widespread creator economy to share ideas, earn rewards and support new projects.
- Dev Tooling: We’re truly excited about launching something transformational in the coming months for developers building on Algorand… so stay tuned!
All this progress has been instrumental in driving more activity on the Algorand blockchain, which also introduced state proofs to the platform in a recent protocol upgrade. State proofs are a unique technology developed by Algorand that enable the ecosystem to be immutably verified, bringing unprecedented interoperability and security. The upgrade also increased Algorand’s processing speed from 1,200 to 6,000 transactions per second, increased the block size to 5 MB and brought us to sub-4-second block latency and finality.
After achieving the goals it set out to accomplish, the SupaGrants program now concludes. Algorand Foundation will continue to build upon the many successes SupaGrants has achieved as part of our mission to fulfill the global promise of the Algorand blockchain.