Stellar Launches a $100M Fund to Promote Smart Contracts

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Nonprofit Stellar Development Foundation (SDF) has launched a $100 million fund that will provide incentives for developers to build products and utilities on a smart contract platform called Soroban.

Soroban has already launched on Futurenet, a testnet for developers.

The launch of the smart contract platform on the mainnet is expected to take place in the first half of 2023.

According to SDF vice president of strategy Tomer Weller, Soroban will solve problems inherent in smart contracts in other networks, such as implementation difficulties and high cost.

The nonprofit launched a $30 million fund in March to support early-stage projects using the blockchain of the same name.