Core DAO, a company dedicated to the growth of the Satoshi Plus ecosystem, has launched a $200 million Ecosystem Fund. The fund’s goal is to hasten the creation of decentralized applications and protocols built on the Core Layer 1 blockchain
The Ecosystem Fund has secured backing from strategic partners, including cryptocurrency exchanges Bitget and MEXC with a primary objective of providing financial support to early-stage businesses.
Two news statements from Core DAO and Bitget, reviewed by a trusted source, confirm that this support will cover a range of critical growth initiatives, such as community-building activities, recruitment, marketing, and research and development.
As part of the partnership, Bitget will list Core projects and launch a new Core Trading Zone. The integrated BitKeep wallet will also be included in the partnership. Bitget plans to implement Core staking on the exchange and become one of the Core network validators. With over 8 million users, Bitget’s significant staking capabilities can provide vital liquidity to the Core DAO ecosystem.
Unlike its industry competitors, the Ecosystem Fund of Core DAO aims to differentiate itself by avoiding a grant-based approach that ties funding to developing a specific protocol. Instead, the fund will incentivize each project to meet previously agreed-upon, unique goals that directly benefit the Core community.
Bitget, the strategic partner and cryptocurrency derivatives exchange of Core DAO, has recently launched a $100 million Web3 fund to support cryptocurrency businesses in Asia. The Ecosystem Fund of Core DAO’s partner is committed to investing in international venture companies and projects that are Web3 compatible. Bitget has stated that it will prioritize funding for Asian projects led by experienced teams with clear roadmaps and practical solutions.
During the launch of the fund, Gracy Chen, the managing director of Bitget’s Web3 fund, highlighted the importance of supporting projects that can contribute to the development of Web3 and elevate it to a global phenomenon similar to Web2. Chen reiterated that the primary objective of the Bitget Web3 fund is to identify projects that are most likely to facilitate this transition.
In addition to Bitget, MEXC is also a strategic partner of Core DAO’s Ecosystem Fund. MEXC is a cryptocurrency trading platform that offers users access to various digital assets and trading tools, including spot and margin trading, derivatives trading, and staking services.
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