- Summary:
- The fund that will not restrict projects with a precondition to build on a specific protocol, but to bring value to the Core ecosystem.
Bitget, a copy trading and crypto derivatives trading platform, has joined up with Core DAO, a group working to build the Satoshi Plus ecosystem, to create a $200 million ecosystem fund. The Ecosystem Fund will help companies and developers in the blockchain industry by giving vital financial assistance to early-stage ventures and allocating resources to support ideas with high potential.
Partnership aimed at stimulating massive expansion
The Ecosystem Fund is also backed by MEXC, one of the leading exchanges in the blockchain industry and will help fuel the expansion and improvement of DApps. The initial airdrop of CORE tokens was claimed by over 1.5 million users, and the introduction of the fund follows the mainnet launch of the Core DAO network, built on the Core Network Layer-1 blockchain. The market’s reaction to the airdrop signifies CORE’s great growth prospects and solidifies the fund’s standing.
As part of the cooperation, Bitget and its integrated BitKeep wallet will begin listing Core projects and will launch a new Core Trading Zone. In addition, Bitget intends to join the Core network of validators and add Core staking to its cryptocurrency exchange.
Unlike its competitors, Core DAO’s Ecosystem Fund will not use a grant-based approach in which the primary requirement for receiving funding is an obligation to develop on a specific protocol. Instead, projects will be rewarded from the Core Ecosystem Fund when they meet certain, mutually agreed-upon milestones that benefit the Core ecosystem as a whole.
The blockchain and cryptocurrency industries have taken a giant leap ahead with the strategic cooperation of Core DAO, Bitget, and MEXC. The partners will be in a strong position to find and fund blockchain initiatives that can change the industry’s trajectory if they pool their resources and knowledge. Bitget, which has more than 8 million users, is one such platform that can meet the Core DAO ecosystem’s staking requirements and offer the necessary liquidity.