A group of investors led by Pantera Capital, Kraken Ventures, Jump Crypto, and KuCoin Ventures has unveiled a new US $150 million venture sponsored by Injective, a blockchain for developing financial applications.
Along with IDG Capital, Delphi Labs, Flow Traders, Gate Labs, and others joined the effort to support “promising” initiatives. It intends to aid advancements in a variety of industries, including point-of-sale infrastructure, decentralized financing, and interoperability.
The initiative’s investors will contribute stock and token investments as well as mentoring in fields including technological advancement, cryptography study, and community development. It intends to concentrate on founders both inside the Cosmos network and the Injective ecosystem.
The platform provided by Injective enables programmers to create protocols for lending, derivatives, and other related operations. Binance served as the company’s incubator, and Mark Cuban provided funding.
On Injective’s chain, recent launches include the White Whale, Frontrunner, and Kado projects.