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Tuesday, February 7, 2023
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    HomeBlockchainMEXC announces $20M ecosystem fund for Sei Network

    MEXC announces $20M ecosystem fund for Sei Network

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    • MEXC Enterprise’s $20 million ecosystem fund targets assist for key initiatives on Layer 1 blockchain Sei Community.
    • Sei Community secured $5 million in August from traders comparable to Coinbase Ventures and Multicoin Capital.
    • The platform plans to assist 20 dApps as its mainnet launch approaches.

    MEXC, a number one Singapore-based cryptocurrency buying and selling platform, has unveiled a $20 million fund geared toward supporting initiatives on Layer 1 blockchain Sei Community.

    In a weblog submit published on 4 January, MEXC mentioned the fund shall be geared in direction of boosting adoption throughout the Sei Community ecosystem. 

    The platform, which is designed with the necessity to maximise buying and selling benefits for decentralised exchanges (DEXs) customers, is developed by Sei Labs – a workforce that counts former Robinhood builders, Cosmos OGs and ex-Goldman Sachs finance and technique members.

    Sei Community to assist 20 dApps forward of mainnet launch

    Sei Community raised $5 million in August, backed by business gamers and different traders together with Coinbase Ventures, Multicoin Capital, Delphi Digital and Hudson River Buying and selling. The platform plans to make use of the brand new capital injection to assist community growth because it strikes nearer to its mainnet launch.

    The workforce will even again 20 decentralised purposes (dApps) which are already constructing on the community.

    MEXC is launching the ecosystem fund by way of its MEXC Ventures, a complete fund that appears to empower improvements throughout the crypto area through strategic investments. The agency additionally focuses on M&As undertaking incubation and multi-manager investments.

    MEXC Ventures presently holds over $100 million in belongings below administration and greater than 300 portfolio investments.



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