Kadena Eco’s $100M fund set to accelerate the growth of blockchain technology
Kadena, a company working on a scalable Proof of Work blockchain, has announced a $100M Kadena Eco support grant to accelerate the growth and adoption of blockchain technology. The grant program aims to bring industry leaders, engineers, entrepreneurs, and technologists to fuel the Kadena ecosystem through building DAOs, DeFi, and NFTs.
The program aims to provide capital, technical and strategic support to build cutting-edge projects on the Kadena platform. The Kadena ecosystem has been providing security of Bitcoin, virtual free gas, unparalleled throughput, and smarter contracts. Kadena claims to be the first crypto “gas station” to eliminate all transaction fees, reducing the barrier to mass adoption. Kadena runs Proof of Work, a secure and reliable blockchain solution for financial service customers.
“Kadena combines the functionality of blockchain tech with the accessibility of the internet we all know and use every day, making it the perfect platform for builders to create their projects,” said Kadena Eco CEO Francesco Melpignano. “We work with developers and builders to launch their projects and back them up with the support they need to launch into the future. We have the resources and the infrastructure to create a multi-generational, sustainable ecosystem — there’s no better time than now for builders to get on board.”
The $100 million grant program is a part of the greater Kadena ecosystem that will help research and development transform complex problems into real-world practical applications, leveraging the Kadena infrastructure. The fund will support hands-on technical developments and accelerate the early-stage startups to launch and scale. Kadena Eco’s strategic components include a venture fund that offers smart capital, strategic growth, and operational expertise to realize the vision.
Kadena calls for applications that agree to adopt the company’s “build in the open” philosophy by contributing high-quality, open-source projects on gaming, metaverse, NFT, Web3, DeFi, and DAO. “In turn, Kadena Eco will commit to engineering mentorship, office hours, and community leadership in addition to monetary support,” executives write in a blog post.
“We’re empowering builders to pioneer new projects that transform the world, and we’re doubling down on our promise to make that happen by actively and responsibly deploying our treasury resources to ensure the long-term sustainability of our ecosystem,” Stuart Popejoy, Founder, and CEO of Kadena concluded.
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Article Topics
blockchain | decentralized apps | Ethereum | funding | Kadena | Proof of Work
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