Organization dedicated to advancing the Aptos protocol, Aptos Foundation, announced it has launched the Movementum Accelerator. This initiative will offer $1.5 million in funding, along with mentorship and comprehensive networking opportunities, to Web3 startups in Vietnam and the overall Asia-Pacific region.
The program, a partnership of the Aptos Foundation and the staking protocol Amnis Finance, is created to elevate Vietnamese Web3 projects and startups.
It targets areas including infrastructure, gaming, decentralized finance, centralized finance, among other sectors. Evaluation criteria for projects will include team capability, product potential, community involvement, tokenomics, and funding approach. Both Vietnamese and international developers are invited to apply, whether they are pre-listing or post-listing projects, as long as they intend to build on the Aptos platform.
The program is now accepting applications and will run for 8 to 12 weeks. Finalists will be chosen on September 30th, with results announced on October 10th, followed by 5 weeks of training. The demo day is scheduled to be held in Vietnam, where ten selected teams will have the opportunity to pitch to more than twenty venture capitalists, network with business partners and advisors. The awards ceremony is set to take place in December this year.
Finalists can receive a maximum of $150,000 in rewards or grants from a total pool of $1 million. They also stand a chance to connect with contributors and partners who provide funding and in-kind financial baking. Moreover, participation includes access to a worldwide network of mentors and support from more than two hundred venture capitalists, communities, as well as partners, along with various other benefits.
Aptos: A Brief Overview
Aptos represents a Proof-of-Stake (PoS) smart contract network that utilizes the Move programming language for executing virtual machine (VM) transactions. Its AptosBFT consensus mechanism is designed with Byzantine Fault Tolerance, ensuring the network remains operational even if fewer than one-third of the validators are dishonest. The Move ecosystem prioritizes security and includes a compiler, a virtual machine, and various tools for builders.
In several years from its inception, it has swiftly grown its ecosystem and infrastructure, partnering with major technology companies like Google Cloud and Microsoft to enhance blockchain scalability and incorporate AI-based instruments, such as the Aptos Assistant.
At present, its ecosystem features more than 250 projects, with the TVL in decentralized applications increasing by 333% in Q1 2024, exceeding $600 million.
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