• Injective has launched a $150 million ecosystem fund to accelerate interoperable infrastructure and decentralized finance (DeFi) adoption.
• The fund is backed by marquee Web 3.0 firms, including Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, and IDG Capital.
• Injective has also announced a hackathon to be launched in March with $1 million in prizes.
Injective, a finance-focused blockchain, has announced the launch of a $150 million ecosystem fund to enable and accelerate the adoption of interoperable infrastructure and decentralized finance (DeFi) solutions. The fund is supported by many Web 3.0 firms, including Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, and IDG Capital.
The fund will be dedicated to founders building within the Injective ecosystem and the broader Cosmos ecosystem. Projects focusing on interoperability, DeFi, trading, proof-of-stake (PoS) infrastructure, and scalability solutions are eligible to receive bespoke token and equity investments. Along with the capital, select projects will receive mentorship in technical development, cryptographic research, business development, marketing, and community growth.
Eric Chen, co-founder and CEO of Injective Labs, said in the press statement: “Developer activity on Injective is rapidly increasing with major projects and this new ecosystem fund will provide unmatched opportunities for new builders entering Web3 and the Cosmos ecosystem overall.”
In addition to the launch of the fund, Injective has also announced a hackathon to be launched in March with $1 million in prizes. The hackathon is aiming to attract developers to the Injective ecosystem and encourage innovation within the space.
The fund and the hackathon are expected to be major catalysts in the growth of DeFi and the Cosmos ecosystem. With the fund and the hackathon, Injective is taking a major step in bringing about the mainstream adoption of Web 3.0 solutions.