Injective Launches $150M Ecosystem Initiative to Boost DeFi Adoption
• Injective, a Cosmos-based layer 1 blockchain, announced a $150 million ecosystem initiative with partners Pantera Capital, Kucoin Ventures, Jump Crypto and Delphi Labs.
• The fund will back projects that accelerate the adoption of interoperable infrastructure and decentralized finance (DeFi).
• The initiative will offer token and equity investments and operational support for development, cryptographic research, marketing and community growth.
Injective, a Cosmos-based layer 1 blockchain for building finance apps that can access other blockchains, recently announced an ambitious $150 million ecosystem initiative. Joining the initiative are several partners including crypto investment firms Pantera Capital and Kucoin Ventures, market maker Jump Crypto, and research and development hub Delphi Labs.
The fund will be used to back projects that accelerate the adoption of interoperable infrastructure and decentralized finance (DeFi). This means that the projects will make it easier to move value across different blockchains, allowing users to access financial services more easily. The initiative will offer both token and equity investments, as well as operational support through memberships in development, cryptographic research, marketing, and community growth.
Injective, based in New York, is also hosting a global virtual hackathon. This event provides developers with an opportunity to submit projects for potential venture funding. The hackathon is designed to foster innovation and new ideas, as well as to support the growth of the DeFi ecosystem.
In addition to the $150 million ecosystem initiative, Injective has also received investments from several venture capital firms. This includes investments from Binance Labs, Blockchain Capital, Coinbase Ventures, and Galaxy Digital.
The initiative is part of Injective’s larger mission of creating an open, interoperable, and decentralized financial infrastructure. This infrastructure is designed to provide users with access to a wide range of financial services, regardless of the underlying blockchain.
The team at Injective believes that the combination of the $150 million ecosystem initiative and the influx of venture capital will help to further accelerate the growth of the DeFi space. This could lead to more efficient, secure, and affordable financial services and products, allowing users to access the financial system without relying on traditional institutions.