• Injective Labs has successfully launched a $150 million ecosystem fund, with support from notable venture capital firms in the Web3 space.
• The ecosystem fund seeks 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 such as trading, scalability and DeFi.
Injective Labs has recently unveiled a groundbreaking $150 million ecosystem fund, with the support of some of the most influential venture capital firms in the Web3 space. Pantera Capital, Kucoin Ventures and Kraken Ventures are among the firms joining this initiative, which seeks to accelerate the adoption of interoperable systems and decentralized finance (DeFi).
The new ecosystem fund will focus on providing support to developers, projects and teams that are building upon the Cosmos network and creating innovative solutions across various sectors such as trading, scalability and DeFi. This support will come in the form of token and equity investments, mentorship, business development, research, marketing and more. It is hoped that this initiative will encourage more people to join the Injective and Cosmos ecosystems and to help them build the future of open finance.
As part of the new ecosystem fund, Injective will also be hosting a global hackathon to further encourage the development of innovative solutions on the platform. Eric Chen, co-founder and CEO of Injective Labs, expressed his excitement over the success of the new ecosystem fund, noting that it will provide “unmatched opportunities for builders to bring their vision to life.”
The launch of the $150 million ecosystem fund is a clear indicator of the growing demand for interoperable systems and DeFi. It is expected that this initiative will provide a significant boost for the Injective and Cosmos ecosystems, and will help to further the development of open finance.