Fuel Labs Launches Modular Execution Layer Fuel Beta-1 Testnet

Blockchain modular execution layer Fuel's developer Fuel Labs announced the launch of the first modular execution layer developer-facing Fuel beta-1 testnet. Developers may now deploy contracts to testnet at will—no permission or whitelisting required—and users may interact with deployed contracts as well. Anyone can use the faucet to get some test $ETH to deploy contracts with or to interact with contracts. It is reported that Fuel beta-1 is not an incentivized testnet. There will be no direct rewards for participation in this network. Previously, Fuel Labs announced it had closed an $80 million funding round this week, led by Blockchain Capital and Stratos Technologies, with participation from Alameda Research, CoinFund, Bain Capital Crypto and others.