Binance

Loom Network (LOOM), a blockchain ecosystem for games and social apps, unveiled a new bounty and rewards program today set to give away millions in LOOM to developers, content curators and community organizers.

According to the announcement, the new program is designed to kickstart the adoption of the project’s established platform through incentives to launch dapps, write technical and non-technical content and further secure the network.

For example, Loom Network is planning to give away 2 million LOOM to any developer who can build and launch a functional block explorer. Anyone who deploys a dapp to Basechain, Loom Network’s platform, with 20+ DAU (weekly average) will receive 500,000 LOOM.

“In order to help grow our ecosystem, we want to continue rewarding our existing stakers, validators, and current and future dapp developers with LOOM tokens for doing various tasks,” states the Loom Network team in the announcement. “Loom Network has the largest lead in blockchain scalability, but instead of continuing at a steady pace, we are shifting into an even higher gear. We want to accelerate hard over the next year and beyond to increase this lead.”

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This news comes several days after Loom Network revealed that it has partnered with Maker (MKR) to bring its stablecoin, DAI, to new blockchains, starting with TRON (TRX) and Binance Chain (BNB).

More: Bounties and Rewards — Earn LOOM Tokens for Participating in the Network
Related: Maker Partners With Loom Network to Bring Dai (DAI) to Additional Blockchains

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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