Injective launches $150M ecosystem fund to accelerate interoperable infra and DeFi adoption

Injective Protocol has announced a $150M ecosystem fund to drive the adoption of interoperable infrastructure and decentralized finance (DeFi) applications.

The fund, called the Injective Ecosystem Fund, will be used to support the growth of the Injective Protocol ecosystem by investing in projects that build on the protocol and promote its adoption.

Injective Protocol is a decentralized exchange protocol that enables the cross-chain trading of digital assets. The protocol is designed to be layer-2 compatible, meaning it can be integrated with any blockchain.

The Injective Ecosystem Fund will be used to support projects that are building on the Injective Protocol and promoting its adoption. The fund will also be used to invest in infrastructure that will support the growth of the ecosystem, such as wallets, block explorers, and data providers.

The fund has already made its first investment, leading a $1.5M seed round for Mirage, a project that is building a layer-2 decentralized exchange on the Injective Protocol.

So far, the Injective Protocol has been integrated with the Ethereum, Binance Smart Chain, Icarus, and Polygon networks. The protocol is also compatible with Bitcoin and other major cryptocurrencies.

The Injective Ecosystem Fund is a vote of confidence in the Injective Protocol and its potential to drive the adoption of interoperable infrastructure and DeFi applications. With the support of the ecosystem fund, the Injective Protocol is well-positioned to become the go-to platform for cross-chain trading and DeFi applications. Injective launches $150M ecosystem fund to accelerate interoperable infra and DeFi adoption

Injective Protocol, the leading layer-2 DeFi protocol, today announced the launch of its ecosystem fund with $150M to support the development of projects that will build on Injective’s decentralized exchange and derivatives trading platform.

The fund will be used to support the development of Injective ecosystem projects as well as to attract top talent to the protocol. Injective expects to support a wide range of projects including, but not limited to, layer-2 solutions, DeFi protocols, oracles, and staking services.

Injective co-founder and CEO, Eric Chen, stated:

“The Injective ecosystem fund is a natural extension of our mission to create the most inclusive financial system for all. By launching this fund, we are further committed to building an expansive network of projects that can leverage our layer-2 ecosystem to power their decentralized applications. We believe that this will result in greater liquidity, adoption, and ultimately value creation for the Injective Protocol.”

Injective’s layer-2 platform enables the construction of endlessly scalable DeFi applications while providing the same level of security as Ethereum. The launch of the ecosystem fund further cements Injective’s position as the go-to platform for large-scale DeFi applications.

Past recipients of ecosystem fund support include well-known protocols such as Synthetix, Maker, and Compound. Injective also backed leading projects such as Serum, which is the world’s first completely decentralized derivatives exchange.

To date, Injective Protocol has raised a total of $13M from leading investors including a16z crypto, Pantera Capital,joint ventures between Mithril Capital Management and Vector Ventures, Grayscale Investments, BlockTower, and Genesis Block Ventures.

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