Borderless Capital Leads A New $50 Million Fund To Build Cross-chain Alterations

Key Points:

• Borderless Capital is the manager of a new $50 million fund that will help projects create cross-chain modifications.
• To create the fund, over twenty blockchain teams and venture funders have collaborated.
• Companies that have invested in fundraising will be able to interact easily and will use Wormhole as their cross-chain solution.

According to a press release, crypto-giant venture firm Borderless Capital is launching a new $50 million fund to help companies develop cross-chain modifications.

Aptos Labs, Algorand Foundation, Solana Foundation, Sei Foundation, CLabs (the firm behind the Celo Blockchain), the Moonbeam Foundation, and Optimism are among the leading layer 1 blockchain businesses sponsoring the fund.

Jump Crypto, Arrington Capital, GSR, Floating Point Group, Chainlayer, Chainode Tech, 01Node, Staking Fund, Moonlet.io, Forbole Ventures, Syncnode, Inotel, Triton One, and Strangelove are among the web3 venture funds interested.

A $50 million cross-chain ecosystem fund has been launched by a group of twenty web3 firms and venture funds. The fund will be used to help companies that utilize the Wormhole cross-chain bridging mechanism.

Borderless Capital’s CEO and Managing Partner, David Garcia, stated:

“Our goal is to empower builders to transcend the limitations of individual ecosystems, paving the way for blockchain applications and protocols to realize their full potential.”

The profusion of layer-1 blockchains, layer-2 scaling solutions, and customized appchains with particular objectives and characteristics make navigating the Web3 ecosystem more difficult. This complexity causes problems for consumers and alienates developers who are unable to access a single ecosystem, stifling their development.

The Cross-Chain Ecosystem Fund aims to unleash the full potential of a cross-chain future by reinventing user experiences and establishing Wormhole as the cross-chain standard for builders seeking to transcend the restrictions of specific ecosystems. Aggregation, security, scalability, compatibility, and composability are the top priorities for this invention.

The fund’s major goal, according to Garcia, is to offer builders an environment that assists them in overcoming the inadequacies of creating individual ecosystems.

Wormhole is a cross-chain messaging system that allows multiple blockchains to communicate data and information in a safe manner. The protocol already has 23 high-value chains and has protocols and organizations like Uniswap, Circle, and Base from Coinbase on board.

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Harold

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