Bitget, a top crypto derivatives and copy trading platform, has partnered with Core DAO, an organization dedicated to developing the Satoshi Plus ecosystem, to launch a $200 million ecosystem fund. This fund will focus on supporting decentralized applications (DApps) built on Core Network Layer-1 blockchain.
The collaboration follows the mainnet launch of the Core network and the first airdrop of CORE tokens, which were claimed by nearly 2 million users. Core DAO has also integrated with cross-chain messaging protocol LayerZero and permissionless Oracle protocol Switchboard. The Ecosystem Fund, backed by strategic partners including Bitget and MEXC, will provide support to early-stage projects for research and development, recruiting, marketing, community-building programs, and other priority growth initiatives.
In addition to the investment, the partnership will potentially lead to the listing of Core projects and the opening of a new Core Trading Zone on Bitget and its integrated BitKeep wallet. Bitget also intends to become one of the validators of the Core network and support Core staking on the exchange. With over 8 million users, Bitget can provide significant staking needs to the Core DAO ecosystem and supply necessary liquidity.
According to Gracy Chen, the Managing Director of Bitget, this investment demonstrates their commitment to supporting the blockchain space and promoting the principles of decentralization. The Core DAO’s Ecosystem Fund differs from other grant-based systems by rewarding projects based on customized benchmarks that deliver tangible value to the Core community.
Rich Rines, Initial Contributor at Core DAO, explains that their Ecosystem Fund prioritizes creating high-quality technology rather than simply being the first or fastest. Projects will be incentivized for their ability to deliver value and sustain success.
This partnership comes after the recent launch of the Bitget Web3 Fund, which aims to facilitate the development of the Web3 and crypto industry. Bitget has been expanding its lineup of products to promote blockchain adoption and offer decentralized services to a broader audience.
About Bitget, it is the world’s leading cryptocurrency exchange with futures trading and copy trading services. Serving over 8 million users in more than 100 countries and regions, Bitget provides a secure, one-stop trading solution. It has collaborated with notable partners such as Lionel Messi, Juventus, and official eSports events organizer PGL.
Core DAO is a Layer-1 blockchain that combines the decentralization and security of Bitcoin with the scalability and utility of Ethereum. Through its Satoshi Plus consensus mechanism, Core DAO integrates the best aspects of Proof of Stake and Proof of Work. The organization aims to promote the growth of Satoshi Plus consensus and the power of blockchain technology to reshape society.