CHICAGO--(BUSINESS WIRE)--Kadena, the only Layer 1 Proof-of-Work (PoW) protocol to solve the Blockchain Trilemma of scalability, security, and decentralization, today announces its first round of grant awards to promising DeFi, NFT, and Web3 projects that foster a future for blockchain that is accessible, streamlined and poised for global transformation with mainstream adoption.
“Kadena’s first cohort of grant recipients embody the promise of Web3, inviting curiosity and innovation in blockchain,” said Francesco Melpignano, CEO of Kadena Eco, an innovation network that encompasses Kadena’s incubator, accelerator, grant program, R&D and venture fund. “As Web3 innovation rapidly expands, we’re excited to be at the forefront of bringing the best of blockchain technology to the mainstream. Kadena is investing heavily to make crypto better in terms of safety, stability and even sustainability. Our grant projects reflect these priorities.”
Since launching its grant program in April 2022, Kadena Eco has received hundreds of applications. It selected the following nine projects for its inaugural cohort of grant recipients:
- Crankk, a builder of distributed wireless networks that provides coverage for IoT devices such as smart meters and GPS trackers.
- Electron Labs, a zero-knowledge (ZK) technology company focused on bringing two key infrastructure components to blockchains: horizontal scaling and on-chain privacy.
- Eucalyptus Labs, a software firm focused on shipping products and adding support in two key areas, developer UX and infrastructure.
- The Database of Native Assets (DNA), a token-based bridge between physical and digital worlds allowing creators to mint their own branded DNA tokens that prove their product’s provenance and authenticity, reducing counterfeiting risk.
- Hypercent, which helps verified projects to easily launch and build on the Kadena blockchain, including helping users swap and stake tokens.
- Kalend Finance, a decentralized lending/borrowing protocol with algorithmically set interest rates based on supply and demand, allowing users to exchange the time value of assets on Kadena frictionlessly with instant liquidation and insurance pools.
- KDLaunch & KDSwap, a decentralized IDO (initial DEX offering) platform, launchpad, DEX and NFT Marketplace.
- Lago Finance, a provider of foundational DeFi infrastructure, including a bridge to Ethereum to facilitate liquidity inflow to Kadena as well as a Kadena-native stablecoin.
- Unmarshal, a multi-chain data infrastructure providing simplified access to data on DeFi, NFT and Metaverse, with built-in composability and sustainability. Unmarshal’s data indexing protocol facilitates seamless access to on-chain data for DeFi applications.
All grant recipient projects use Kadena’s multichain protocol Chainweb and smart contract language, Pact. Kadena’s grant applications are evaluated on technical strength, detail of specifications, team experience, and usefulness to the Kadena ecosystem. All high-quality, open-source projects for gaming, metaverse, NFT, Web3, DeFi and DAO are welcome. For more information about Kadena Eco or to apply for a grant, please visit https://kadena.io/eco/.
ABOUT KADENA ECO
Kadena Eco is an innovation network fueling mainstream adoption of Web3, DeFi and NFTs. We unite technical founders and entrepreneurs with the world’s top blockchain leaders, venture capitalists and acceleration partners to support startups at every phase of their development journey. By leveraging Kadena’s builder-centric blockchain that delivers Web3 innovation with Web2 usability, Kadena Eco aims to speed the development and adoption of meaningful applications that benefit everyday people, worldwide.
ABOUT KADENA
Kadena believes in the potential of blockchain to revolutionize how the world interacts and transacts. To realize this vision, Kadena has reimagined blockchain technology and its connective ecosystem from the ground up. Our multi-chain architecture and complementary tools are designed to make blockchain work for everyone – at speed, scale, and with energy efficiency previously thought unachievable.
Website: https://kadena.io/eco/
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