Bitget and Core DAO have jointly announced a new fund of up to $200 million for the development of their ecosystem. Key highlights:

  • Bitget has formed a strategic collaboration with Core DAO with a focus on projects that operate on the Core network.
  • MEXC is also providing support for the $200 million fund involved in the collaboration.
  • Core has recently integrated with LayerZero, which is a messaging protocol based on blockchain technology.

Bitget, a leading platform for crypto derivatives and copy trading, has partnered with Core DAO, an organization committed to enhancing; the Satoshi Plus ecosystem.

Together, they will establish a $200 million fund to support the development of decentralized applications (DApps) on the Core Network’s Layer-1 blockchain.

Funds to back projects on the Core network

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.

About Bitget

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.

About Core DAO

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.

James Atkins

I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.