Key Takeaways
- The fund aims to accelerate the development of DApps and protocols built on the Core layer-1 blockchain.
- As per the press release, the partnership also includes the potential listing of Core projects as well as the opening of a new Core Trading Zone on Bitget along with its integrated BitKeep wallet.
Core DAO, a blockchain organization dedicated to the development of the Satoshi Plus ecosystem, is partnering with crypto derivatives and copy trading platform Bitget to announce the launch of a $200 million Ecosystem Fund. The fund aims to accelerate the development of decentralized applications (DApps) and protocols built on the Core layer-1 blockchain.
According to the press release, the partnership also includes the potential listing of Core projects and the opening of a new Core Trading Zone on Bitget and its integrated BitKeep wallet. Reportedly, Bitget’s vast user base will be beneficial in offering substantial staking capabilities to the Core DAO ecosystem, providing it with essential liquidity.
The Ecosystem Fund, backed by partners including Bitget and MAXC, will provide financial support to early-stage projects in areas including research and development,marketing, community-building programs, recruitment, among others.
The press release notes that the Ecosystem Fund will incentivize each project to achieve pre-agreed customized yardsticks that would offer tangible value to the Core community.
Commenting on the development, Rich Rines, the initial contributor at Core DAO, stated that “Core DAO has always prioritized creating the highest quality technology in the blockchain industry versus being the ‘first’ or the ‘fastest’ to do something. That’s why our Ecosystem Fund will incentivize projects for their ability to both deliver value and sustain success.”
Gracy Chen, the managing director of Bitget, stated that “the purpose of blockchain is to link the real world with Web3 space, and that is exactly what we are promoting with this partnership and our support to the ecological fund.”
The Ecosystem Fund launch comes on the heels of the Core network’s mainnet launch and the first airdrop of CORE tokens, which were claimed by approximately 2 million users. The network has also recently integrated the cross-chain messaging protocol LayerZero and the permissionless Oracle protocol Switchboard.
The latest development also comes amid Bitget launching a $100 Mln Web3 fund focused on investing in Web3-friendly venture capital and outstanding Web3 projects.
