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Cosmos Interchain Foundation Allocates $40M for Ecosystem Development in 2023

According to a medium post on Feb. 20, the Interchain Foundation (ICF), a non-profit organization behind the creation of the Cosmos (ATOM) interblockchain communications (IBC) ecosystem, has committed to spending approximately $40 million in 2023 to develop its core infrastructure and applications. As a part of the Interchain Stack, which is utilized by around 50 blockchains, these include the Tendermint Core (and now CometBFT), Cosmos SDK, Cosmos Hub, and the IBC protocol.

"Throughout the year, we envisage engaging other teams to deliver smaller, tightly defined tasks within each area of work. Such contracts will be to supplement the work of the teams mentioned below or in service of their needs that arise during the year."

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