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Acclar launches $60 million startup environmental program

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the Proof of Stake (PoS) On December 19, blockchain Axelar launched a $60 million startup funding program dedicated to accelerating the development of decentralized applications and protocols that can replace centralized exchanges. The initiative is backed by more than 15 blockchain investors.

Dubbed the Axelar Ecosystem Startup Funding Program, the initiative is designed to promote the development of Web3 applications that address global issues that cannot be solved by a centralized Internet. To qualify for funding, projects must also protect digital sovereignty, security and privacy, and work to easily accommodate audiences without undue friction between specific blockchains or tokens, the company noted.

Sergei Gorbunov, co-founder and CEO of Axelar, told Cointelegraph about the development:

“2021-2022 saw an unprecedented influx of new developers into Web3. In 2023, we expect to see less quantity, but more quality. For those with the conviction and ability to build truly unauthorized systems, the collapse of FTX only fuels design. The best Web3 developers are no longer content to cede onramps to entities running “blockchain” services that run on a database. They are more committed than ever to solving problems of digital sovereignty, privacy and access that the central web can’t solve – and delivering those solutions on the infrastructure. That can be on board the blocks, seamlessly.”

Funding is linked to the Acclar Grants Program, which launched in 2022 and has provided grants to more than 50 projects, of which around 33% have managed to raise seed or seed funding. “Variables such as market conditions may affect deal flow, but the Acclar Ecosystem Funding Program aims to accelerate the rate of funding for projects in the Acclar ecosystem — whether they are in the grant program or not — in 2023,” Gorbunov noted.

Related: Security and Interoperability, Challenges Preceding Web3 Mass Adoption

The program is backed by a group of blockchain investors, including Blockchange, Chorus One, Collab + Currency, Cygni, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, and Rockaway Blockchain. Crate and SCB 10X.

The program aims to create a connection between investors and developers to build cross-chain dApps. Development partners include Arbitrum, Circle, Osmosis, and Polygon.