Together, they will establish a $200 million fund to support the development of decentralized applications (DApps) on the Core Network’s Layer-1 blockchain.
Bitget has partnered with Core DAO for an ecosystem fund valued at $200 million. Other strategic partners, such as global crypto exchange MEXC, have also backed the fund.
The aim is to provide support to early-stage projects on Core, with a focus on product research and development, marketing, talent recruitment; and community-building programs. The Ecosystem Fund has the support of strategic partners such as Bitget and MEXC.
Besides this $200 million investment, the collaboration also involves the possibility of listing Core projects and establishing a new Core Trading Zone on Bitget. Along with its linked BitKeep wallet. This will further strengthen the ecosystem for Core and bolster its usability for users.
For MEXC, the partnership with Core Network will bring new opportunities to build a bridge between traditional finance and digital assets.
MEXC also plans to introduce projects from the Core Ecosystem Fund onto their platform as well as provide support in terms of capital; resource, and other venues.
Bitget plans to support Core staking on their exchange and become a validator of the Core network. Their goal is to provide necessary liquidity and meet the staking needs of the Core DAO ecosystem. Which will benefit from the support of over 8 million Bitget users.
According to Gracy Chen, the Managing Director of Bitget;
“We are investing to support the blockchain space from different perspectives, demonstrating our commitment. It’s important to remember that blockchain’s purpose is to connect the real world with the Web3 space. This partnership and our support of the ecological fund are promoting this goal. With our assistance, we believe Core can make significant progress and uphold the fundamental principles of decentralisation, which are based on transparency and enhancing the cross-chain experience for community members.”
Core DAO’s Ecosystem Fund will differentiate itself from other industry peers by having a unique approach to funding projects.
Unlike the common grant-based system, which provides financial support to projects committed to building on a specific protocol. Core’s Ecosystem Fund will reward each project based on specific agreed-upon benchmarks that provide actual value to the Core community.
Bitget is a cryptocurrency exchange that was created in 2018. The exchange has over 8 million users in more than 100 countries and aims to offer a secure and comprehensive trading solution for its users.
It is with well-known partners, such as Lionel Messi, Juventus, and PGL, to encourage more people to adopt crypto. Coingecko rankings show that Bitget is currently among the top 5 futures trading platforms and top 10 spot trading platforms.
Core DAO is a type of blockchain that combines the decentralized and secure nature of Bitcoin with the scalability and practicality of Ethereum. The Satoshi Plus consensus mechanism used by Core DAO combines the advantages of both Proof of Stake and Proof of Work.
The Core DAO is a worldwide community of individuals who share a common goal of advancing the Satoshi Plus consensus. And utilizing blockchain technology to transform the world through co-creation.