TONcoin, an altcoin built on Layer-1 Blockchain technology, has launched a $250 million ecosystem fund. Uniswap Labs, the main developer of Uniswap, has launched a new venture unit.
TONcoin will start a major fund
According to a recent statement by the TON team, the altcoin aims to support the founders built on The Open Network with a $250 million fund. According to the statement made by the cryptocurrency foundation, many leading crypto companies will grant grants to the projects they choose
In the statement made by the TON team, if the TON blockchain integrates with Telegram, the world It has 600 million users worldwide. As Cryptokoin.com previously reported, in December last year, Telegram CEO Pavel Durov supported Toncoin, the adaptation of TON Protocol, which Telegram had to leave in 2020.
Popular altcoin Uniswap will invest in web3
Uniswap Labs Ventures will invest in web3 projects across categories with a focus on startups creating blockchain infrastructure, developer tools and consumer-facing apps. While the size of Uniswap Labs Ventures’ fund was not disclosed, one of the firm’s directors, Matteo Leibowitz, told The Block that the investments would be made directly from the Uniswap Labs balance sheet. Here is what Leibowitz explains regarding the altcoin project:
Beyond that, we are looking for projects that will enhance the benefits and user adoption of Web3. In any case, as a rapidly growing crypto-centric company, we strive to support teams that can leverage our experience and expertise.
Altcoin project officials also add that they will actively participate in the on-chain and off-chain management of projects. Uniswap Labs Ventures plans to participate in the governance systems of the MakerDAO, Aave, Compound and Ethereum Name Service protocols. Leibowitz, who will lead the startups unit with Uniswap Labs chief operating officer MC Lader, states that the firm will invest in both stock and token deals. Leibowitz, a senior official, adds that the Uniswap ecosystem is excited to push this forward by leveraging the contributions of third parties while sharing their experience and expertise with similar companies
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