Bitget and Core DAO partner to launch $200M ecosystem fund for decentralized apps

Bitget, a top crypto derivatives and copy trading platform, has announced its partnership with Core DAO, the organization dedicated to developing the Satoshi Plus ecosystem. The collaboration aims to launch a $200 million ecosystem fund to support decentralized applications (DApps) built on Core Network Layer-1 blockchain. The Ecosystem Fund will provide support to early-stage projects for research and development, recruiting, marketing, community-building programs, and other priority growth initiatives.

Core DAO’s Ecosystem Fund will not utilize a grant-based system but will reward each project for hitting customized and agreed-upon benchmarks that deliver tangible value to the Core community. The partnership also entails the potential listing of Core projects and the opening of a new Core Trading Zone on Bitget and its integrated BitKeep wallet. Bitget also intends to become one of the validators of the Core network and support Core staking on the exchange.

“This investment is another show of proof of our commitment to supporting the blockchain space from various angles. We have to keep in mind that the purpose of blockchain is to link the real world with Web3 space, and that is exactly what we are promoting with this partnership and our support to the ecological fund,” said Gracy Chen, the Managing Director of Bitget.

This partnership comes on the heels of the recent launch of the Bitget Web3 Fund, which is part of Bitget’s ongoing efforts to facilitate the development of the Web3 and crypto industry. Bitget is expanding its lineup of products and promoting blockchain adoption by offering a broader audience of users access to decentralized services.

TL;DR:

Bitget and Core DAO have launched a $200 million ecosystem fund to support decentralized applications built on Core Network Layer-1 blockchain. The partnership will also entail the potential listing of Core projects, the opening of a new Core Trading Zone on Bitget, and Bitget becoming one of the validators of the Core network.