Kadena launches $100M grant fund to support early-stage builders

Kadena, a blockchain protocol, announced Thursday that it will launch a $100 million grant to help individuals and businesses build on the chain.

The protocol’s growth initiative Kadena Eco will focus on supporting developers and entrepreneurs in building decentralized autonomous organizations (DAOs), decentralized finance (DeFi) and non-fungible tokens (NFTs) within Kadena.

“We care about the best builders building on Kadena. A lot of them are transitioning into Web 3, and they will help define these use cases,” said Chief Investment and Innovation Officer Paul Hsu.

Francesco Melpignano, CEO of Kadena Eco, stated that Kadena will be the front-runner for the grant capital. It will dole the grants out to idea-stage projects with “no-string-attached.”

“It’s Kadena’s way to pay it forward to our community and blockchain builders moving the needle in the space,” he said.

Kadena’s grant program continues a trend of ecosystem investments by crypto projects. This year alone has seen The Graph launch a $205 million ecosystem fund and privacy-focused Secret announce its own $225 million effort.

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