Proximity Labs unveils $10 million developer fund for trading protocols on NEAR

Blockchain research and development firm Proximity Labs and three decentralized exchanges on the NEAR Protocol blockchain — Orderly Network, Spin, and Tonic — have announced a $10 million developer fund.

The fund will provide grants and investments to new developer teams that build on top of Orderly, Spin, or Tonic, which are decentralized trading protocols that rely on virtual order books. These projects offer trading experience akin to centralized exchanges, using the NEAR blockchain as the settlement layer.