TRON (TRX) is looking to build on its early network successes by facilitating the development of decentralized applications (dapps) through its newly launched TRON Accelerator.

With this new program, TRON will support 56 different dapp development teams with a total of $1 million in capital, in addition to recognition within the TRON community.

According to the accelerator website, there are grand, special and finalist prizes, each with different rewards.

The three grand prize winners split a pool of $550,000 while the 8 special prize winners each take home $30,000 for winning various categories, including blockchain gaming and best design. There will be 42 winners selected for the finalist prize, each earning $5,000.

Project submissions open on December 1 and run through January 4.

TRON

TRX is currently trading for $0.0189 with a $1.24 billion market cap, making it the 11th largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

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Related: TRON Rising: TRX Breaks Ethereum’s Record for Total Daily Transactions

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.