- Bitget’s strategic partnership with Core DAO targets projects on the Core network.
- The collaboration includes a $200 milion fund also backed by MEXC.
- Core recently integrated with blockchain messaging protocol LayerZero.
Bitget, a leading crypto derivatives trading platform and Core DAO, the organization that’s developing the Satoshi Plus ecosystem, have announced a strategic partnership to support the development of decentralised applications (dApps) on Core network’s Layer-1 blockchain.
Fund to support projects on Core network
According to a news release from Bitget, the collaboration with Core DAO involves an ecosystem fund worth $200 million. The fund is backed by other strategic partners, including global crypto exchange MEXC and will see early stage projects on Core receive support across product research and development, marketing, recruitment of talent and community-building programs.
Bitget will also list Core projects and open a new Core Trading Zone on the derivatives platform and its integrated BitKeep wallet. The platform will also support CORE staking and become a validator on Core.
Core DAO’s ecosystem fund will offer a grants strategy for projects where funds will be available when developers hit agreed-upon benchmarks. According to Bitget, the community will have to see tangible value before the projects get funding.
News of Core DAO’s partnership with Bitget is a big boost for Core, whose mainnet launch happened recently and saw a CORE tokens airdrop benefit roughly 2 million users. The growth trajectory for Core DAO also includes key integrations with LayerZero, a cross-chain messaging protocol.
The network is also collaborating with Switchboard, a permissionless Oracle protocol.
In the market, Core (CORE) price rose after the news, trading to intraday highs of $1.70, while Bitget Token was down 1%. Meanwhile, the crypto market had climbed 2% to $1.34 trillion as Bitcoin bounced above $30k amid a price uptick for cryptocurrencies.
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Today, global blockchain technology enterprise, Bitget and leading Decentralized Autonomous Organization (DAO) Core DAO, have announced the launch of a $200 million ecosystem fund. This new fund will be used to support the development and expansion of the Bitget and CoreDAO ecosystems.
The Bitget ecosystem is composed of multiple interconnected blockchain protocols, including Bitget, DeFi+, and ApolloX, among others. This efficient infrastructure serves both individual and institutional clients, providing a variety of tools and resources to help investors and developers.
On the other hand, Core DAO is a Decentralized Autonomous Organization (DAO) that focuses on empowering developers and creators to innovate and build in the blockchain space. Core DAO provides technical support, hosting services, financial aid, and other resources to help developers, entrepreneurs, and investors build their blockchain business.
The new $200 million ecosystem fund launched by Bitget and Core DAO will be used to support the development and expansion of existing platforms, as well as drive innovative projects within the Bitget and Core DAO ecosystems. The funds will be allocated to various initiatives and investments, including platform improvements, technology development, marketing activities, and more.
The launch of the ecosystem fund reflects Bitget and CoreDAO’s commitment to building the future of blockchain technology. With the collective efforts of both companies, the blockchain space could see a new wave of innovation, with the potential to bring about greater financial and economic inclusion.
Overall, the launch of the new $200 million ecosystem fund is an exciting development in the world of blockchain technology. With the new resources and capabilities, the Bitget and Core DAO ecosystems could expand to even bigger heights, creating valuable opportunities for both individuals and businesses.