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Emurgo, a blockchain solutions company, will deploy $200 million over the next 3 years to accelerate the growth of the Cardano ecosystem.
Within the framework of the TOKEN2049 event that started in Singapore on September 28, Emurgo has committed to invest more than 200 million USD to support Cardano development over the next three years. This statement was made by the founder of Emurgo – Mr. Ken Kodama.
Emurgo is known as a blockchain solutions company, also a commercial branch of Cardano, helping the protocol develop products, services and network applications. In September 2021, Emurgo invested $100 million to develop the DeFi ecosystem on Cardano.
According to the disclosure, the funds derived from Emurgo’s own capital will be spread across projects that build directly on Cardano or choose to integrate with this blockchain. $100 million will be allocated to Africa under Emurgo’s initiative. Kodama emphasized the growth engine of this area for lending services in daily life, not just for speculative purposes.
On the other hand, Kodama admits Cardano’s growth is relatively slow compared to other networks. However, he added that the network is ready with the necessary infrastructure to safely scale and grow the network in the coming years.
As reported, earlier this month Cardano successfully launched the Vasil hard fork, the most difficult and long-awaited update. One of the key changes after Vasil is a significant improvement in transaction fees. Block aggregation and transaction validation are also streamlined without sacrificing security, thereby reducing transaction processing times across the network.
Before Cardano, there were many blockchains from Layer 1 to Layer 2 that set up an ecosystem development fund this year. Notable examples include ICON (200 million USD), Secret Network (400 million USD), Astar (100 million USD), Polkadot (250 million USD), Avalanche (phase 1 – 290 million USD, phase 2 – 100 million USD). USD), Acala ($250 million), Hedera Hashgraph ($250 million), Cosmos ($150 million), Polygon ($100 million)…
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