Step Finance Wants To Boost The Growth Of Solana Blockchain

Step Finance gathered $5 million that will be utilized for rewarding users that will create data-critical tools to bolster Solana’s ecosystem and will boost its growth as we can see more in today’s crypto latest news.

Step Finance is the face of the Solana blockchain and it launched a $5 million fund to make the Solana ecosystem even more robust and build even more critical data tools. The $5 million funds will encourage users to contribute their skills in developing critical tools that will improve and enhance Solana’s ecosystem and will enable the users to stay updated on the price changes and analytics. Solana has undergone a lot of critical changes like implementing an environment that will bring a friendly infrastructure proposal that will make Solana more sustainable and cost-efficient. As noted by George Harrap, the co-founder of Step finance:

“Step Finance is already the place you go to find out about your portfolio and interact with farms, and it will soon be the place you go to get data on the Solana network. This is a step towards that direction.”

The increased user activity on the Solana blockchain promoted the company to launch the funds which can encourage the users to create scalable data tools which can help with the mainstream adoption. On blockchains like Ethereum, the critical data tools like Covalent and The Graph long delivered extremely accurate price analysis for the users. The funds introduced by Step Finance will also be aimed at encouraging the users to develop tools that can make Solana better in terms of delivering better performance as Harrap stated further:

“This fund will enable Solana projects to get the support and eyes on their project they need to scale, and thus this is a huge benefit to all Solana users and investors on the platform. Without proper data indexing tools, Solana can’t scale, and this fund not only brings new developers to the platform but tools that will be leveraged for faster and better trading. We aim to add these projects to Step over time.”

Solana is a highly functional open source project which gained more than 1500% users on the platform and the surge can be attributed to the network’s cost-effective transaction fees that are lower than Etheruem. With that, the network adopts a unique mining model which can deliver transactions at a superfast speed.