The organization engaged in the development of the Satoshi Plus Core DAO ecosystem announced yesterday the launch of a Investment Funds aimed at accelerating the development of decentralized applications and protocols built on the Layer 1 Core blockchain.
This fund, in which the Bitget crypto exchange platforms and MEXC, aims at support financially start-up projects.
A fund that does not require projects to use a particular protocol
In addition to development funds, this initiative also includes theregistration of Core projects and the opening of a new Core exchange area on Bitget and its BitKeep integrated wallet.
Note that Bitget plans to act as a Core network validator and support the staking Core on its platform.
It should also be noted that the amount available to support crypto projects is $200 million, as announced by Core DAO on Wednesday on Twitter:
The $200 Million Core Ecosystem Collaboration will fuel the future of projects on Core. Thank you to @MEXC_Global and @bitgetglobal for your collaborative efforts and true belief in the Core vision. Read our most recent Medium post for more information:https://t.co/jydEueesmJ
— Core DAO (@Coredao_Org) April 19, 2023
According to the release, Core DAO’s Ecosystem Fund differs from similar funds in that it does not require crypto DAO projects rely on a imposed protocol to be eligible for financial support from the fund.
The Fund has in fact opted for a more flexible operation, preferring to set for each project personalized objectives agreed in advance which will create value for the Core community.
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An initiative that promotes crypto projects betting on long-term success
Commenting on the launch of the fund, Rich Rines, Core DAO’s first contributor, said that “too often grant programs seem designed to make headlines and generate short-term momentum rather than incubating projects aligned with the long-term success of the ecosystem.”
He thus welcomed the fact that “Core DAOs has always prioritized creating the highest quality technology in the blockchain industry overto be the “first” or the “fastest” to do something,” emphasizing that the fund will choose supported projects based on both their ability to deliver value and sustain success.
For his part, Gracy Chen, Managing Director of Bitget, said that “this investment is further proof of our commitment to support the blockchain space from different angles”.
He pointed out that this fund is in line with Bitget’s desire to keep in mind that the purpose of the blockchain is to connect the real world to the Web3 space, adding that “that is exactly what we are promoting with this partnership.”
Finally, remember that Bitget, a crypto derivatives platform, recently launched another $100 million Web3 fund to support and finance crypto projects and blockchain in Asia.
Source : Core DAO, via Medium
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