A $50 million investment fund is established by Algorand, Polygon, and Solana

Fund manager Borderless Capital has launched the Cross-Chain Ecosystem Investment Fund. Investors include Jump Crypto, Aptos Labs, Polygon Ventures, Solana Foundation, Algorand Foundation, GSR, Arrington Capital, and other companies.

More than 20 blockchain organizations and venture capital funds have joined together to create a $50 million investment ecosystem focused on supporting and launching new startups using the Wormhole cross-chain messaging system.

The Cross-Chain Ecosystem Fund is managed by Borderless Capital, one of the web capital companies3. Navigating the Web3 landscape is increasingly difficult due to the proliferation of multiple Layer-1 blockchains, Layer-2 scaling solutions, and specialized application chains with unique purposes and properties.

coins, banknotes,money, currency,finance, cash,business, economics,banking,

This complexity creates difficulties for users and excludes developers, who have limited access to the same environment, which hinders their development.

The Cross-Chain Ecosystem Fund aims to unlock the potential of the cross-Chain future by defining the user experience and making Wormhole a cross-chain standard for developers to overcome the limitations of the individual ecosystem.

This innovation prioritizes integration, security, scalability, interoperability, and composability. “We believe that the future of Web3 is unlimited and we are happy with the support of our partners and investors who share our vision. Just as Web2 creates value by connecting users, we believe that Web3 is the next natural step,” said David Garcia, CEO and Managing Partner of Borderless Capital. “Our goal is to enable developers to overcome the limitations of individual ecosystems, paving the way for blockchain applications and protocols to reach their full potential.”

Wormhole, the technology center of the Foundation, is the main protocol that enables the exchange of valuable information and data between 23 high-level chains that are already used in the protocol and critical companies such as Uniswap, Circle and Base de Coinbase.

“Cryptocurrency is still a growing industry with unlimited opportunities for growth, and we should do nothing but work together in any network that people may be interested in. It’s great to see how many ecosystem-led VCs are working together to solve interoperability challenges by supporting startups that integrate Wormhole’s interoperability principles,” said Dan Riser, Director of Interoperability. Operations, Wormhole Foundation.

Cross-Chain Ecosystem Fund supported by Jump Crypto, Polygon Ventures, Aptos Labs, Solana Foundation, Sei Foundation, Algorand Foundation, CLab (the company behind the Celo blockchain), Moonbeam Foundation, Optimism, Circle, MultiCoin GP, ​​Tushar Jain and Kyle Samani, Arrington Capital, GSR, Floating Point Group, Chainlayer, Chainode Tech, 01Node, Staking Fund, Moonlet.io, Forbole Ventures, Syncnode, Inotel, Triton One, Strangelove, Securitize CEO Carlos Domingo, OtterSec and others. About the wormhole

Wormhole is an Internet service standard that supports applications in Web3. Wormhole allows developers to access funds and users on 20 major blockchain networks, offering options spanning DeFi, NFT, governance, and more.

Wormhole enables the growing product process to rely on the information layer. Wormhole Link is an in-app bridge widget that can be linked with just three lines of code. Organizations such as Circle (USDC) and Uniswap trust and use the Wormhole network more, and to date, the platform has enabled the transfer of more than $35 billion through hundreds of millions of social networks.

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