MEXC reveals $20M community fund for Sei Network

MEXC Endeavor’s $20 million community fund targets assistance for crucial jobs on Layer 1 blockchain Sei Network.
Sei Network protected $5 million in August from financiers such as Coinbase Ventures and Multicoin Capital.
The platform prepares to support 20 dApps as its mainnet launch methods.

MEXC, a leading Singapore-based cryptocurrency trading platform, has actually revealed a $20 million fund focused on supporting jobs on Layer 1 blockchain Sei Network.

In an article released on 4 January, MEXC stated the fund will be tailored towards enhancing adoption throughout the Sei Network community.

The platform, which is created with the requirement to increase trading benefits for decentralised exchanges (DEXs) users, is established by Sei Labs– a group that counts previous Robinhood designers, Universe OGs and ex-Goldman Sachs financing and method members.

Sei Network to support 20 dApps ahead of mainnet launch

Sei Network raised $5 million in August, backed by market gamers and other financiers consisting of Coinbase Ventures, Multicoin Capital, Delphi Digital and Hudson River Trading. The platform prepares to utilize the brand-new capital injection to support network advancement as it moves closer to its mainnet launch.

The group will likewise back 20 decentralised applications (dApps) that are currently constructing on the network.

MEXC is introducing the community fund through its MEXC Ventures, a thorough fund that wants to empower developments within the crypto area through tactical financial investments. The company likewise concentrates on M&A s task incubation and multi-manager financial investments.

MEXC Ventures presently holds over $100 million in possessions under management and more than 300 portfolio financial investments.