• Injective Labs has announced the launch of a $150 million ecosystem fund with support from Pantera Capital, Kucoin Ventures and others.
• The fund aims to accelerate the adoption of interoperable systems and decentralized finance (DeFi).
• Members will support promising projects using Cosmos to build innovative solutions across various sectors like trading, scalability and DeFi.
Injective Labs, a superfast interoperable layer-1 distributed ledger technology network, has just announced the successful launch of a $150 million ecosystem fund. This fund was created with the support of some of the most notable venture capital firms in the Web3 space, including Pantera Capital, Kraken Ventures, and Kucoin Ventures. This fund is set to be a huge step in the right direction for the project, as it seeks to further the adoption of interoperable systems and decentralized finance (DeFi).
The main goal of the ecosystem fund is to support promising projects that use the Cosmos network to build innovative solutions across numerous sectors such as trading, scalability, and DeFi. The members of this fund will receive support in the form of token and equity investments, mentorship, business development, research, marketing, and more. This fund is also set to make the onboarding process easier for builders within the Injective and the Cosmos ecosystem.
Eric Chen, co-founder and CEO of Injective Labs, is incredibly excited about the success of the new ecosystem fund. He believes that it “will provide unmatched opportunities for builders to make their mark in Web3.” He also noted that the Injective blockchain has been seeing a significant increase in adoption by builders from other layer-1 networks such as Terra, Solana, and Ethereum.
This fund is a major milestone for Injective Labs, as it will be instrumental in furthering its mission of bringing Cosmos (ATOM) and Ethereum (ETH) interoperability to finance-focused applications. It is also expected to be a huge boost for the whole Web3 space, as it will provide builders with the resources necessary to create groundbreaking projects.