Core DAO has unveiled a $200 million Ecosystem Fund to supercharge the advancement of decentralized applications and protocols on the Core layer-1 blockchain. The Ecosystem Fund is backed by powerhouse partners, including cryptocurrency exchanges Bitget and MEXC, and aims to financially empower early-stage projects in multiple domains, such as research, development, marketing, and community-building efforts.
The collaboration goes beyond the investment, encompassing the listing of Core projects and the inauguration of a novel Core Trading Zone on Bitget, complete with its integrated BitKeep wallet. Bitget is set to become a Core network validator and provide Core staking support on its exchange, leveraging its 8-million-strong user base to supply crucial staking capacities to the Core DAO ecosystem.
Prioritizing value delivery and long-term success
Core DAO’s Ecosystem Fund sets itself apart from competitors by eschewing the grant-based model, where projects must commit to a specific protocol to receive funding. Instead, the fund will incentivize projects to attain tailor-made benchmarks, delivering tangible benefits to the Core community.
Rich Rines, Core DAO’s inaugural contributor, remarked that the organization prioritizes top-tier technology in the blockchain industry and rewards projects for their capacity to deliver value and achieve lasting success. Gracy Chen, Bitget’s managing director, expressed the company’s commitment to supporting the blockchain sphere from multiple perspectives, emphasizing the importance of bridging the real world with the Web3 space through partnership and ecological fund backing.
As a strategic partner of Core DAO’s Ecosystem Fund, Bitget has recently launched a $100 million Web3 fund for Asian crypto projects, targeting Web3-compatible ventures and initiatives worldwide. The focus will be on experienced teams with clear roadmaps addressing real-world challenges. Gracy Chen underscored the rapid evolution of the Web3 landscape and the necessity of backing meritorious projects to drive global adoption akin to Web2.
MEXC, another strategic partner, offers users a comprehensive cryptocurrency trading platform with access to digital assets, spot and margin trading, derivatives trading, and staking services.
