BitDAO’s Mantle Core proposes $200M for Web3 fund

02/27 01:01

According to Cointelegraph, a proposal seeking to create a $200 million fund dedicated to early-stage Web3 startups was submitted on Feb. 26 by Mantle Core on BitDAO’s governance forum. The ecosystem fund aims to boost the adoption of Mantle’s network among developers and Dapps. Mantle is an Ethereum layer-2 network developed by the BitDAO ecosystem. According to the proposal, a capital pool of $200 million would be deployed within the Mantle ecosystem over the next three years. BitDAO’s treasury would provide $100 million in USDC, while another $100 million would be supplied by external matching capital from “strategic venture partners.” If approved, the Mantle EcoFund and venture partners will participate in projects with 1:1 co-investment ratio. Web3 startups raising pre-seed, seed, and series A round will be targeted by the ecosystem fund. Funds that have expressed interest in participating include Dragonfly Capital, Pantera, Folius Ventures, Play Ventures Future Fund, Spartan, Lemniscap, Selini Capital, Cadenza Ventures and QCP Capital, according to Mantle’s proposal.
bullishbullishbullish2bearishbearishbearishBearish1Share
DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

Related Articles

  • Image

    Analyst Says Ethereum Will Have Its Turn For An Explosive Rally, But Only When Bitcoin Does This

  • Image

    Top Coins Gaining Attention as Bitcoin Stalls and Ethereum Slows, With Little Pepe (LILPEPE) Starting To Emerge

  • Image

    $500 mln USDC added to Solana: What it means for liquidity

All Comments0LatestHot

avatar
LatestHot

Related Articles

  • Image

    Analyst Says Ethereum Will Have Its Turn For An Explosive Rally, But Only When Bitcoin Does This

  • Image

    Top Coins Gaining Attention as Bitcoin Stalls and Ethereum Slows, With Little Pepe (LILPEPE) Starting To Emerge

  • Image

    $500 mln USDC added to Solana: What it means for liquidity