MEXC announces $20M ecosystem fund for Sei Network

    • MEXC Venture’s $20 million ecosystem fund targets help for key tasks on Layer 1 blockchain Sei Network.
    • Sei Network secured $5 million in August from buyers resembling Coinbase Ventures and Multicoin Capital.
    • The platform plans to help 20 dApps as its mainnet launch approaches.

    MEXC, a number one Singapore-based cryptocurrency buying and selling platform, has unveiled a $20 million fund geared toward supporting tasks on Layer 1 blockchain Sei Network.

    In a weblog submit published on 4 January, MEXC mentioned the fund will likely be geared in direction of boosting adoption throughout the Sei Network ecosystem. 

    The platform, which is designed with the necessity to maximise buying and selling benefits for decentralised exchanges (DEXs) customers, is developed by Sei Labs – a staff that counts former Robinhood builders, Cosmos OGs and ex-Goldman Sachs finance and technique members.

    Sei Network to help 20 dApps forward of mainnet launch

    Sei Network raised $5 million in August, backed by business gamers and different buyers together with Coinbase Ventures, Multicoin Capital, Delphi Digital and Hudson River Trading. The platform plans to make use of the brand new capital injection to help community growth because it strikes nearer to its mainnet launch.

    The staff can even again 20 decentralised purposes (dApps) which might be already constructing on the community.

    MEXC is launching the ecosystem fund by its MEXC Ventures, a complete fund that appears to empower improvements throughout the crypto area by way of strategic investments. The agency additionally focuses on M&As venture incubation and multi-manager investments.

    MEXC Ventures at the moment holds over $100 million in property underneath administration and greater than 300 portfolio investments.

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