• Bitget and Core DAO have announced a strategic partnership to support the development of decentralized applications on Core network’s Layer-1 blockchain.
• The collaboration includes a $200 milion fund backed by MEXC and other strategic partners.
• Core recently integrated with blockchain messaging protocol LayerZero, and has also collaborated with Switchboard, a permissionless Oracle protocol.
Bitget and Core DAO Launch $200 Million Ecosystem Fund
Bitget, a leading crypto derivatives trading platform, and Core DAO, the organization that’s developing the Satoshi Plus ecosystem, have announced a strategic partnership to support the development of decentralised applications (dApps) on Core network’s Layer-1 blockchain. The collaboration includes an ecosystem fund worth $200 million which is backed by other strategic partners including global crypto exchange MEXC.
Fund to Support Projects on Core Network
The fund will see early stage projects on Core receive support across product research and development, marketing, recruitment of talent and community-building programs. Bitget will list Core projects and open a new Core Trading Zone on its derivatives platform for customers as well as its integrated BitKeep wallet. The platform will also support CORE staking and become a validator on Core.
Core DAO’s Grants Strategy
Core DAO’s ecosystem fund will offer grants strategy for projects where funds will be available when developers hit agreed-upon benchmarks. According to Bitget, the community will have to see tangible value before the projects get funding.
Core Integrations
News of this announcement is a big boost for Core whose mainnet launch happened recently with a CORE tokens air drop benefit roughly 2 million users. In addition to this announcement, the growth trajectory for Core DAO includes key integrations such as integration with LayerZero; cross chain messaging protocol as well as collaborating with Switchboard; permissionless Oracle protocol .
Market Impact Of Partnership
The market reacted positively after news of this announcement was made public with CORE token rising intraday highs of $1.70 while Bitget Token was down 1%. Meanwhile cryptocurrency market had climbed 2% to $1.34 trillion as Bitcoin bounced above $30k amid price uptick for cryptocurrencies