THELOGICALINDIAN - Another advance in the Solana ecosystem
The Solana Foundation and South Korean blockchain accelerator close ROK Capital are ablution a $20 actor armamentarium to advance the Solana ecosystem.
Ethereum Competitor Attracts Capital
The Solana Foundation and ROK Capital are starting a $20 actor fund, it was appear Thursday.
It’s been accustomed to abutment the advance of the Solana network. According to a columnist release, ROK Capital will use the armamentarium to advance in “Solana-focused basement projects, including those accompanying to Web3, DeFi, and NFTs.”
ROK Basic has already invested in Solana-based projects like Mercurial Finance, Synthetify, Symmetry, and Parrot application the funds. The adventure basic close additionally helped in bootstrapping Serum, the network’s better decentralized exchange. ROK Basic accepted accomplice Brian Kang said of the armamentarium launch:
“We are aflame to accompany the Solana ecosystem as their bounded accomplice in Korea. Solana is one of the fastest-growing networks in the industry, and in accession to injecting capital, this new armamentarium will accommodate tailored casework for projects to auspiciously advance in Korea.”
DeFi and NFTs are amid the primary use cases for blockchain technology today. Ethereum currently hosts best DeFi and NFT applications. However, its scalability issues accept been the Achilles heel for the ecosystem, causing a about-face to added faster and cheaper blockchains.
Millions of dollars of basic accept abounding into the Solana ecosystem this year, while abounding able new projects accept emerged. Earlier this year, the Asian exchanges OKEx and MXC allocated $40 actor to the Solana Foundation to abutment new projects architecture on the platform.
The arrangement additionally accustomed a new NFT marketplace yesterday. Meanwhile, abounding projects have expanded to the arrangement from added chains. The built-in token, SOL, has outperformed abounding added agenda assets back the alpha of the year. It’s up 2,463% year-to-date.
With so abundant action surrounding the blockchain, it’s accessible that it could carbon the success of added networks like Ethereum and Binance Smart Chain.
