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Co-Founder of Lisk (LSK) to invest in MADANA for a second time - Lisk News. Wednesday, October 3

03 october 2018, 18:32 by Jesús S. Affigne

Co-Founder of Lisk (LSK) to invest in MADANA for a second time

The funds are part of his grants program, “The Pioneer’s Vault”

Max Kordek, Co-Founder and President of Lisk, has just announced a second round of investment in sidechain project MADANA. The news was made public via a Medium post, in which the crypto enthusiast informed that €120.000 – roughly $138000 – will be allocated to the aforementioned startup.

According to Kordek, the project – which already received an incentive of €200.000 at the beginning of this year – is again going to see an inflow of funds from the Co-Founder’s grant program “The Pioneer’s Vault”, because of its achievement throughout the year, and what it represents to Lisk and to himself. 

“Successful and legitimate blockchain applications will make the foundations of the future Lisk ecosystem. Without them, Lisk won’t have a reason to exist […] MADANA has proved to represent this quality,” he said.

MADANA – which stands for Market for Data Analysis – is a startup that aims to enable individuals to participate in their decentralized data pool, without losing their privacy. Via the issuance of their own token – the PAX – they envision a market where users can buy data analysis results, while rewarding data producers for their efforts.

Kordek highlights that the blockchain-based project has achieved several business and technological milestones, as well as a successful launch of their pre-sale in Germany – which he denotes is one of the first pre-sales approved in that country. Additionally, they filed a patent for an automated procedure for the protection of electronic data, and have published a 59 pages long whitepaper developed by a team of 15 experts in the matter.

“Their combined experience shows that they understand legal, business and technical factors that will ensure MADANA’s success,” Kordek asserted.

About “The Pioneer’s Vault”

The Pioneer’s Vault is a grant program launched by Max Kordek on February this year, to encourage the development of applications on the Lisk Network. The funds come from his personal LSK assets, which accounted – at the moment – for 1,700,000 LSK. Right now, that amount equals to $5,780,000.

By doing this, he expect to attract high-quality developers willing to build top-notch sidechains for the Lisk ecosystem, and his funds are reserved exclusively for this type of projects.

He finished his post by calling out the Lisk community to support and contribute with projects like this, as they will ensure the success of this blockchain in the future.

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