certify
Home arrow Article arrow Article Detail

Pantera Capital Raises US$40 Million to Invest in Blockchain and web3

Profile Image

Joyashree Dey Follow

INDIA

Aug, 18 2022

Aug, 18 2022

likes | comments 0

Article Image

On August 15, Pantera Capital-backed the layer-1 network Injective Labs announced that it has raised $40 million to be used to create blockchain optimized for web3 financial applications. Jump Crypto and BH Digital, the crypto arm of hedge fund manager Alan Howard led the funding round. 


The funding will also be used to further increase utility for the native INJ token, which powers Injective, while also creating new liquidity avenues for dApps (decentralized applications)  built on Injective. 


“We are excited to collaborate with our partners, including Jump Crypto, which we expect will be a major boon for the broader Injective ecosystem,” said Eric Chen, co-founder, and CEO of Injective Labs. 


With this new capital, Injective will spur further development aimed at creating the industry-leading blockchain optimized for financial applications. Injective will continue likewise keep on invest in its rapidly growing ecosystem to solidify its position as the premier destination for Web3 DeFi developers. 


Jump Crypto has also engaged in similar deals before with blockchains such as Solana and Oasis, it said in a statement. 


The new capital will support developers who center around diversifying the Injective ecosystem, the organization said in a statement. 


New applications, like prediction markets, lending protocols, and savings Dapps, can all build on Injective while using its core modules to multiply the Injective ecosystem. 


Injective is growing continuously by reaching over 92 million on-chain transactions, while dApps built on Injective have already generated over $7 billion in cumulative volume. With the launch of the CosmWasm smart contracts layer last month, it has become one of the fastest-growing ecosystems in the industry today. 


“Businesses and financial institutions have already begun to participate in DeFi in a big way and the natural next step will be building personalized decentralized applications. Injective offers these institutions an out-of-the-box solution that can be leveraged to build any finance app,” said Kanav Kariya, President of Jump Crypto. 



likes | comments 0

Profile Image

Joyashree Dey

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
WMG team up with OpenSea to expand Web3 opportunities 

WMG?team up?with OpenSea?to expand?Web3 opportunities for artists. This platform will enable artists to?build and extend their fanbase in the Web3 community. The nonfungible token (NFT) marketplace..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.