Ethereum

RockX Launches $ 20M Investment Program to Support Polkadot Projects

RockX launched a $ 20 million investment program to support Polkadot projects for five years. Funding will be provided in exchange for tokens or project shares.

Members of the Polkadot ecosystem will be able to receive funding from RockX up to $ 500,000 in DOT per project. Funds will be provided along with technical support from the developer team. RockX, which currently manages nodes for Polkadot, Cosmos, Solana, Oasis and Terra, was founded by Alex Lam.

Lam, who also runs RockMiner mining companies in Asia, said the program was launched with financial support from a number of individual investors who asked to remain anonymous. He described the anonymous partners as prominent DOT holders who are also longtime Ethereum supporters.

“These users have been in the Ethereum community since 2015 and have supported the ecosystem through investments and projects in the past,” Lam said.

Despite funding, investors will have no influence over which projects are to be accepted into the program – this decision will be made solely by the RockX team. RockX will also consider providing no-obligation grants for certain projects in the future. Although no projects have been accepted into the program yet, RockX is already in preliminary discussions with some teams.

Recall that last week Polkadot announced the launch of its own “Treasury” – a fund designed to fund new projects proposed by the community. However, the new program has nothing to do with Polkadot’s “treasury”, although it shares a similar vision of “creating and promoting projects” online.

“With its strong technical base, RockX will also build and contribute to Polkadot,” Lam said.

Recall that this week, Equilibrium startup received a $ 27,000 grant from the Web3 Foundation to develop a universal DeFi module and tools that allow projects to migrate to the Polkadot platform.

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