Core DAO announced a $200 million Ecosystem Fund aimed at speeding up the development of decentralized applications and protocols built on the Core Layer1 blockchain.
The Ecosystem Fund, supported by strategic partners such as crypto exchanges Bitget and MEXC, aims to provide financial support to early-stage projects. This support will encompass various areas such as research and development, recruitment, marketing, community-building programs, and other essential growth initiatives.
The Ecosystem Fund of Core DAO claims to distinguish itself from industry peers by not adopting a grant-based system in which a project’s primary requirement to obtain financial support is committing to build on a particular protocol. Instead, the Ecosystem Fund will incentivize each project to achieve pre-agreed customized benchmarks that provide tangible value to the Core community.
Core is an L1 blockchain that combines the composability of an EVM chain, with the decentralization and security of Bitcoin.
According to TokenInsight data, $CORE went up by 3.65% in the last hour, trading at $1.6640 now.
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