Survive

Pacific

2024

Manta Network

Foundation

Manta Network has launched a $50 million ecosystem fund, through its parent company Manta Foundation to foster an ecosystem of blockchain projects. Dubbed EcoFund, this will provide funding opportunities for projects that will explore and grow the Manta Network ecosystem.
Also read: <a href="https://www.cryptopolitan.com/manta-price-prediction/" rel="noopener noreferrer nofollow">MANTA Price Prediction 2024-2030: Will Manta Network Survive Or Crash?</a>
In a Thursday announcement, the firm revealed that the $50 million allocation comes directly from the Foundation’s Treasury and will last for a year. The initiative is expected to run for a year, starting June 15.
<h2 id="manta-network-segments-the-ecofund">Manta Network segments the EcoFund</h2>
According to the company, direct investment in projects on Manta Network will account for $35 million or 70% of the total fund, focusing on building applications ranging from gaming, NFTs, and decentralized finance (DeFi).
<a href="https://mpost.io/manta-foundation-launches-50m-ecosystem-fund-to-foster-thriving-ecosystem-of-blockchain-projects/" rel="noopener noreferrer nofollow" target="_blank">Grants will account</a> for 20% or $10 million of the fund focusing on projects that span diverse sectors like decentralized physical infrastructure networks (DePin), memecoins, and ZK technology.
The remaining $5 million equivalent to 10% of the EcoFund will be set aside for events and hackathons.
<blockquote>
 “The Manta Foundation is excited to announce the opening of the Manta Foundation EcoFund, a $50 million pool that includes direct investment and our Ecosystem Grants Program.”
 Manta Foundation.
</blockquote>
“The $50 million allocation will last for one year starting from June 15th. All applicants who successfully receive our grant or direct investment will fall under the EcoFund Program,” <a href="https://foundation.manta.network/" rel="noopener noreferrer nofollow" target="_blank">added the company</a>.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🔱 The Manta Foundation is excited to announce the opening of the Manta Foundation EcoFund, a $50 million pool that includes direct investment and our Ecosystem Grants Program.
 Looking to build on Manta? Apply today:
 👉 <a href="https://t.co/FpNxpI1sCe" rel="noopener noreferrer nofollow" target="_blank">https://t.co/FpNxpI1sCe</a> <a href="https://t.co/8K1R8KZ6Tv" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/8K1R8KZ6Tv</a>
 — Manta Network (🔱,🔱) #MantaCeDeFi (@MantaNetwork) <a href="https://twitter.com/MantaNetwork/status/1801239018430234854?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">June 13, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="ecofund-to-support-innovations-in-manta-ecosystem">EcoFund to support innovations in Manta ecosystem</h2>
The initiative targets early-stage projects giving support to developers with unique innovations to Manta Network. The EcoFund will prioritize projects that exhibit high growth potential.
Also read: <a href="https://www.cryptopolitan.com/manta-network-faces-ddos-attack-shortly/" rel="noopener noreferrer nofollow">Manta Network faces DDoS attack shortly after token issuance</a>
“We are seeking builders with the potential to make a dent in Web3. Successful applicants will demonstrate a product-market fit and help grow the Manta Network ecosystem,” said Manta Foundation.
Manta Network is designed to support <a href="https://mpost.io/state-of-zero-knowledge-2023-report-by-cryptomeria-capital-illuminates-key-insights-from-the-zk-landscape/" rel="noopener noreferrer nofollow" target="_blank">ZK applications</a> with two networks, Manta Pacific and Manta Atlantic.
Cryptopolitan reporting by Enacy Mapakame

Manta Foundation launches $50m ecosystem fund

Table of Contents

Cryptopolitan_News

Other articles published on Jun 13, 2024

Nuclear Shiba Coin to Explode 15,000%, Looks to Challenge Shiba Inu and Dogecoin

EU Banking Authority Finalizes MiCA Crypto Framework

Bitcoin Whales Grab $1.4 Billion in a Single Correction Day

Crypto Regulations in Vietnam 2024

Missed Iggy Azalea’s Massive MOTHER Coin Pump? Don’t Miss Cats In A Dogs World (MEW) And ETFSwap ...

Bitcoin Price Prediction As MicroStrategy Plans To Raise $500M To Buy More BTC And The 99BTC ICO ...

Join our free newsletter for daily crypto updates!