Over the past month, Solana had launched over 50-market ready projects. The capital collected from the funds will be used in the development of the projects.
With an aim to expand the foundation’s ecosystem, The Solana Foundation has partnered with cryptocurrency exchanges OKEx and MXC to launch two strategic investment funds. The funds will aid the foundation in releasing more of its decentralized applications and protocols to market. The funds are valued at $40 million.
Anatoly Yakovenko, President of the Solana Foundation said:
The Solana ecosystem has grown multitudes in the past few months with the volume of projects and active developers skyrocketing quarter over quarter. We are tremendously excited to welcome our new strategic partner OKEx’s Block Dream Fund to the ecosystem and look forward to working alongside them to support the next wave of killer dApps, with their ongoing support.
Dora, the Founder of Block Dream Fund said:
We are delighted to partner with Solana Foundation and look forward to working together to empower high-quality projects and accompany their development. We will work together to expand the market size and user volume of the blockchain industry, and continue to create value. The Block Dream Fund looks forward to providing continued support to companies building on Solana.
Block Dream Fund, an investment institution under OKEx, launched a strategic investment fund that will bring $20 million of new capital to the key projects in the Solana ecosystem. OKEx has granted $100 million to Block Dream Fund, in an attempt to empower talented entrepreneurs and innovative projects on blockchain technology.
Whereas an executive at MXC Exchange, an Asian spot-trading cryptocurrency exchange, emphasised on the strong partnership getting aligned with MXC’s “vision and market position”. In the last month alone, over 50 market-ready projects namely DeFi applications, markets for NFTs, and infrastructure to support the next generation of Web 3 companies got launched on Solana. As of 25 March, more than $61 billion has been locked into DeFi projects. according to the latest industry data.