Injective, a layer 1 blockchain specializing in building financial applications, has launched a USD 150 million foundation ecosystem initiative. Injective was built using the Cosmos SDK and uniquely provides plugins that help developers quickly build complex protocols focused on areas such as exchanges, options, derivatives and lending. Injective is already one of the most interoperable chains in existence with native access to chains supporting Cosmos IBC and Ethereum.
This new ecosystem initiative is supported by a consortium of leading firms in Web3 including Pantera Capital, Kraken Ventures, Jump Crypto, KuCoin Ventures, Delphi Labs, Flow Traders, Gate Labs and IDG Capital. The main activity of the participants will be to support promising projects implemented in various segments, including interoperability, DeFi, trading, PoS infrastructure and scalable solutions. It is also the largest consortium assembled to date within the wider Cosmos ecosystem.
To kick off this new ecosystem fund, Injective is also launching the Injective Global Virtual Hackathon, bringing together developers around the world to not only learn how to use Injective, but also submit new project proposals for venture capital funding.