Axelar $60M Ecosystem Funding

Published on: 20.12.2022
Axelar $60M Ecosystem Funding

Axelar $60M Ecosystem Funding has been launched to support early projects who can lead Web3. As an infrastructure project providing secure interchain communication, Axelar sees some of the most innovative and compelling projects in Web3.

Developers building on Axelar commits to delivering products that can reach mass adoption, without requiring users to switch between blockchains.

Furthermore, developers building on Axelar is excited about the permissionless composability afforded in interchain development. They know that it means they can collaborate globally, using open-source code and decentralized networks, circumventing interminable business development cycles, and using each others’ code like LEGOs.

Decentralized Infrastructure

Developers building on Axelar demand decentralized infrastructure. They’re not willing to have their networks permissioned, potentially held hostage, or hacked through multisigs. They have the vision and the ability to build applications that convey the guarantees of a permissionless blockchain. They don’t want a database or a federated multisig, anywhere in the stack.

Not everyone has the dedication or the skill to build like this. But it is developers at this level who will build the onramps to Web3 that will serve users in the 10s or 100s of millions. The next wave of crypto adoption, whenever it may come, won’t be left to centralized “Web2” applications that reap inflows from the innovations pioneers of Web3 developers.

It’s for these innovators that today Axelar announced the Axelar Ecosystem Startup Funding Program, a $60 million initiative led by top-tier, crypto-native investment firms: Blockchange, Chorus One, Collab+Currency, Cygni Capital, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, Rockaway Blockchain Fund, SCB 10X and others.

In short, the Axelar Ecosystem Startup Funding Program designs to nurture a pipeline of developers building Web3 products that rival anything on the centralized web.

  • Solve global problems that the centralized internet cannot address.
  • Safeguard digital sovereignty, security, and privacy.
  • Onboard masses easily, without unnecessary friction between specific blockchains or tokens.

The Axelar Ecosystem Startup Funding Program is gearing projects that are ready to raise institutional capital. In addition, Axelar operates the Axelar Grant Program, which supports idea-stage projects.

Grants fall within 4 main categories:

  • Open source
  • Infrastructure
  • Research + Education
  • Community growth

The Axelar Ecosystem Startup Funding Program will establish a connection between investors who share this vision, and the flow of new developers building interchain dApps that use Axelar as infrastructure to make it a reality. Investors get early exposure to projects; for developers, the program is an opportunity to connect with active Web3 investors who share their vision and goals.

ABOUT AXELAR

Axelar delivers secure cross-chain communication for Web3. Cross-chain communication means you can build a complete experience for your users that lets them interact with any asset, any application, on any chain with one click.

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