• Injective Labs has launched a new $150 million ecosystem fund with support from Pantera Capital, Kucoin Ventures, and others.
• The fund aims to foster the adoption of interoperable infrastructure, the Cosmos network, and DeFi in general.
• The fund will focus on making the onboarding process easier for builders within the Injective and the Cosmos ecosystem.
Injective Labs, the superfast interoperable layer-1 distributed ledger technology network that brings Cosmos (ATOM) and Ethereum (ETH) interoperability to finance-focused applications, has announced the successful launch of its $150 million ecosystem fund. This new ecosystem fund, which has received support from notable venture capital firms in the Web3 space such as Pantera Capital, Kraken Ventures, and Kucoin Ventures, seeks to accelerate the adoption of interoperable systems and decentralized finance (DeFi).
The members of this ecosystem fund will support promising projects that use Cosmos to build innovative solutions across various sectors such as trading, scalability, and DeFi. This support will include token and equity investments, mentorship, business development, research, marketing, and more. Injective claims that their blockchain is seeing a significant increase in adoption by builders from other layer-1 networks such as Terra, Solana, and Ethereum.
Eric Chen, co-founder and CEO of Injective Labs, expressed his excitement over the success of the new ecosystem fund, saying that it “will provide unmatched opportunities for builders to rapidly develop and launch innovative solutions without compromising on security or scalability.” He added that the fund “will support developers, projects, and organizations that are building on our network, and it will help them reach their financial and strategic goals.”
The fund will also focus on making the onboarding process easier for builders within the Injective and the Cosmos ecosystem. This will be done through the Injective Global Hackathon, which is a series of virtual hackathons for developers to build and launch products with Injective’s interoperable infrastructure.
Overall, with the launch of the new ecosystem fund, the Injective team is confident that it will foster the adoption of interoperable infrastructure, the Cosmos network, and DeFi in general. It will also provide builders with the resources and support they need to develop and launch innovative solutions.