Blockchain Developer Injective Launches $150M Cosmos Contributor Support Fund

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Injective Labs, the company behind the Injective layer-one blockchain protocol, has announced the launch of a $150 million fund to support developers using the Cosmos ecosystem.

Injective Labs, the developer of the Injective layer-1 blockchain protocol, has announced the launch of a $150 million fund to support developers using the Cosmos ecosystem.The company created a consortium that included venture capitalists and Web3 projects.Among them are Pantera Capital, Kucoin Ventures, Flow Traders, Jump Crypto, and others.

Injective said that the developers who are selected to participate will receivesupport in the form of individual investments in tokens and shares.count on technical support, assistance in marketing and business development.focus on decentralized finance (DeFi) projects.

The company's co-founder and CEO, Eric Chen, said the fund willconsider projects at an early stage, and determine the amount of funding allocated depending on theProjects will be reviewed on a regular basis, deciding whether to proceed with further investments or not.

"We are convinced that the decentralized nature of DeFi protocols can be very successful in guaranteeing transparency and true ownership of funds, which is a major advantage over centralized systems," assuresEric Chen.

Injective entered into a partnership in May last year
with cross-chain platform Wormhole to integrate ten new blockchains into its network.