- Bitget and Core DAO are joining together to form a $200 million ecosystem fund.
- The fund is backed by crypto exchange MEXC and targets projects on the Core network.
- Core recently integrated with LayerZero, a blockchain messaging protocol.
Crypto derivatives trading platform Bitget and Core DAO, an organization developing the Satoshi Plus ecosystem, have announced a strategic partnership. The collaboration includes an ecosystem fund worth $200 million, supported by other strategic partners, including global crypto exchange MEXC.
Fund to Support Projects on Core Network
The fund will provide early stage projects on Core with assistance for product research and development, marketing, recruiting of talent, and community-building programs. Bitget will list Core projects and open a new Core Trading Zone on the derivatives platform and its integrated BitKeep wallet. Additionally, the platform will support CORE staking and become a validator on Core.
Core DAO’s ecosystem fund will offer a grants strategy for projects, with funds available when developers reach agreed-upon benchmarks. According to Bitget, the community will need to see tangible value before the projects receive funding.
The news of Core DAO’s partnership with Bitget is a major boost for Core. Its mainnet launch recently occurred and saw CORE tokens airdropped for about 2 million users. Core DAO is also integrating with LayerZero, a cross-chain messaging protocol, and collaborating with Switchboard, a permissionless Oracle protocol.
In the markets, Core (CORE) price rose after the news, reaching intraday highs of $1.70, while Bitget Token was down 1%. The crypto market had climbed 2% to $1.34 trillion as Bitcoin bounced above $30k following an upswing in cryptocurrency prices.