Alchemy, a blockchain development platform, has introduced the "Everyone On-Chain Fund," a $5 million initiative aimed at accelerating the adoption of web3 technologies. The fund is designed to provide developers building on Alchemy Rollups and Account Kit with essential resources for rollup deployment and user onboarding. The initiative comes as rollup adoption and smart wallets gain momentum, highlighting the growing need for scalable blockchain infrastructure.
Alchemy Launches $5 Million Fund to Support Web3
$5 million in developer support
Participating teams can access up to $10,000 in gas credits and $20,000 in compute credits. Developers will also receive enterprise-grade rollup infrastructure, giving them the tools needed to build and deploy blockchain applications. The fund initially targets projects built within the OP Stack and Arbitrum Orbit ecosystems, focusing on scalable and efficient blockchain solutions.
Nikil Viswanathan, co-founder and CEO of Alchemy, said the fund responds directly to developer feedback requesting more robust support. As the blockchain ecosystem expands, builders need better resources to succeed in an on-chain environment.
Breakdown of Funding
Reducing developer friction
The initiative includes free access to Alchemy's smart wallet integration. This feature eliminates common pain points like seed phrases and external wallet pop-ups. The integration could save projects up to $40,000 in infrastructure costs, making blockchain adoption more accessible to a wider audience.
Steven Smith, Vice President of Protocol and Applied Research at Tools for Humanity, a contributor to World Network, highlighted the value of industry collaboration. He pointed to the partnership between Alchemy and World Chain as an example of how blockchain organizations can work together to support innovation and long-term growth.
Account Kit
Lowering barriers to web3 development
The "Everyone On-Chain Fund" represents Alchemy's push to expand web3 adoption by equipping developers with financial and technical resources. By reducing barriers to entry and improving infrastructure access, the program should contribute to the growth of decentralized applications and encourage broader participation in the web3 ecosystem.
As rollups and smart wallets continue to mature, Alchemy positions itself as a major supporter of blockchain development. The fund provides developers with financial backing and the infrastructure needed to build scalable, user-friendly applications, driving further adoption of decentralized technologies.
