Core DAO, a company dedicated to the growth of the Satoshi Plus ecosystem, has recently patnered with Bitget and MEXC to launch a $200 million Ecosystem Fund, aimng to hasten the creation of decentralized apps and protocols that are based on the Core layer-1 blockchain.
Bitget and MEXC are Supporting the Fund
The Ecosystem Fund, which is funded by key partners including cryptocurrency exchanges Bitget and MEXC, aims to give financial assistance to early-stage enterprises, that is, one from CoreDAO and one from Bitget. According to Cointelegraph, this initiative will cover a range of issues including community building programmes, recruiting, marketing, research and development, and other crucial growth activities.
A New Core Trading Zone on Bitget
The cooperation also includes the listing of Core projects, the launch of a new Core Trading Zone on Bitget, and its integrated BitKeep wallet alongside the funding. Bitget also intends to implement Core holding on the trading platform and turn into one of the Core network validators. The Core DAO ecosystem may also benefit from significant staking potential from Bitget’s user base of over 8 million, giving it the vital liquidity it needs.
Here’s What Core DAO Contributor Believes
Initial Core DAO contributor Rich Rines commented on the new fund launch by stating:
“Too often, grant programs seem designed to grab headlines and generate short-term momentum rather than incubating projects aligned with the ecosystem’s long-term success.”
He further adds: “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.”
Supporting the Right Path
The managing director of Bitget Gracy Chen stated, “this investment is another show of proof of our commitment to supporting the blockchain space from various angles. We have to keep in mind 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.”
Notably, as TheCoinRise reported, BitGet recently unveiled a $100 million financing fund to aid Web3 startups.
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