Injective launches $150M fund backed by Pantera, Jump Crypto
Injective Launches $150M Fund Backed by Pantera and Jump Crypto
The foundation aims to accelerate the adoption of DeFi by supporting founders working in the Injective and Cosmos ecosystem.
Finance-focused blockchain Injective has launched a $150 million ecosystem fund to accelerate the adoption of functional infrastructure and decentralized finance (DeFi), according to a January 25 announcement. Press release.
The fund’s focus will be limited to founders working within Injective and the wider Cosmos ecosystem.
Built using the Cosmos SDK, Injective provides native access to Cosmos chains with IBC and Ethereum support.
The new fund is backed by renowned Web 3.0 firms, including Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, and IDG Capital. The consortium will support forward-thinking projects focused on interoperability, DeFi, trading, Proof-of-Stake (PoS) infrastructure, and scalability solutions.
Selected Web 3.0 projects will receive individual investments in tokens and shares. Projects will also receive mentoring in technical development, crypto research, business development, marketing, and community growth.
Eric Chenco-founder and CEO of Injective Labs, said in a press statement:
“Developer activity at Injective is growing rapidly with major projects, and this new ecosystem fund will provide an unrivaled opportunity for new developers entering Web3 and the Cosmos ecosystem as a whole.”
Injective also announced the launch of a hackathon in March with $1 million in prizes, grants and investment.
Credit : cryptoslate.com