• Injective has launched a $150 million ecosystem fund that is backed by Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, and IDG Capital.
• The fund aims to accelerate DeFi adoption by providing support to founders building within Injective and the Cosmos ecosystem.
• 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 further accelerate the adoption of decentralized finance (DeFi) and interoperable infrastructure. The fund has been backed by marquee Web 3.0 firms, including Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, and IDG Capital.
The fund will be limited to founders building within Injective and the broader Cosmos ecosystem. Built using the Cosmos SDK, Injective provides native access to Cosmos IBC-enabled chains and Ethereum. The consortium will support promising projects focusing on interoperability, DeFi, trading, proof-of-stake (PoS) infrastructure, and scalability solutions.
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.”
Select Web 3.0 projects will receive bespoke token and equity investments as well as mentorship in technical development, cryptographic research, business development, marketing, and community growth. Injective has also announced a hackathon to be launched in March with $1 million in prizes, giving developers the opportunity to showcase their projects and win prizes.
The launch of the $150 million ecosystem fund aims to accelerate DeFi adoption by providing support to founders building within Injective and the Cosmos ecosystem. By providing these resources, Injective hopes to create a foundation for a more open, interoperable, and secure financial system, which will enable more people to access the financial markets.