Matic Network will fund $5 million in DeFi projects through a new incubator fund

According to Coindesk, the Ethereum sidechain expansion solution Matic Network (MATIC) will fund the DeFi project with a value of USD 5 million through the new incubator fund, the token MATIC, aimed at attracting DeFi projects to be directly established on its protocol. Matic has provided grants worth more than $1 million. Lianwen previously reported that in July, Matic Network launched a large-scale developer program aimed at strengthening mainnet adoption. Matic Network will provide support to DApp developers, and will establish a Matic ecosystem composed of developers and DApps. Specifically, Matic Network will launch a monthly regular reward program, Matic Layer 2 Security Hackathon (Matic Layer 2 Security Hackathon), bug bounty program, accelerators and incubators similar to T-Block, and developer support programs.