Nervos Foundation Offers Grant to Encentive

The Nervos Foundation has announced that it has offered Encentive a grant to integrate its turn-key, multichain dApp building platform with Nervos Layer 2 Godwoken.

Once integrated, it will extend the capabilities of Godwoken mainnet to those who continuously use Encentive to create and customize modules for their decentralized finance application. These include community leaders, enterprises, and influencers.

Capabilities that these users can expect to get extended are staking, farming, NFT marketplace, OTC, and GameFi, to mention a few. The tools will help the users better empower the communities and enhance their growth potential.

Developers who register on Encentive gain the tools to create decentralized exchanges on as many chains as possible at once. Properties of these exchanges can be customized best to meet the needs of developers and their target audience.

As for Nervos Layer 2, many DeFi opportunities open up for the Nervos community, including those out of reach earlier.

Offering a grant is key to achieving the mission of Encentive, which states that it looks to help users and organizations incentivize their respective communities with applications that have been developed and deployed specifically for Web3.

It could include those that enable their users to stake, farm, customize liquidity provider fees, and NFTs along with their airdrop function.

Encentive’s cross-chain skills include ground-breaking collaboration with Alchemy Pay to provide fiat to cryptocurrency on/off ramps. This would allow users to employ DeFi functions requiring crypto transactions from their wallet addresses and credit card payment options.

Web3 continues to face barriers for those with less knowledge of migrating from Web2 to Web3. The majority has shown interest, but the migration data speaks otherwise.

As both the partners take their relationship long-term and deepen the integration, a leading model for application will automatically come into play to lower the barriers and accelerate the migration.

Web2 has billions of users who drive the adoption of Web3. As more users make the transition, Web3 will become not just a reality but also one of the fastest trends to get picked up, especially by the younger generation and those active in the blockchain industry.

Encentive enables users to develop a peer-to-peer DeFi app and marketplace without using code. While it is still recommended that one must be aware of the basics, others can always give it a shot in development.

This makes it easier for enterprises and individuals to establish the next-generation DeFi app or marketplace almost instantly.

The blockchain community’s main problems are intended to be resolved by Nervos, a set of protocols, and a public blockchain environment. The Nervos Common Knowledge Base allows the storage of any crypto-asset with the security, immutability, and permissionless nature of Bitcoin while enabling layer 2 solutions & smart contract solutions.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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