[Blockchain Today Reporter Park Yohan] Solara, a public chain project, created a $5 million fund with Coin98 Ventures, a Vietnamese investment company, to enter the Southeast Asian market.
According to the announcement on the 27th (local time), Solana Foundation has signed a partnership relationship with Coin98 Ventures, a Vietnamese investment company. Solana will provide up to $100,000 in technology, marketing and community support to local startups. Funds will be put into the DeFi and Web3 sectors, including exchanges, over the next three years.
Solana is said to be interested in Southeast Asia, especially Vietnam. “Our goal is to create optimal conditions for Southeast Asian developers to work for Solana,” said Eric Williams, Director of the Solana Foundation.
The project team may not be in one location, but it must be active in Southeast Asia, and it is reported that if there is no activity in Southeast Asia, it will not receive funds.
“Solana has partnered with Coin98 Ventures for technology and community support, and the fund needs to combine economic and technical support for success,” Williams said.
DeFi is gaining interest in the Solara ecosystem, and its trading volume hit a record high earlier this month.
In addition to Solana, several blockchain network programs including Bitcoin, Ethereum, Ok Coin, and Polkadot have raised funds to strengthen the developer ecosystem several times.
In September of last year, Polkadot received a $20 million grant from digital asset developer RockX. The fund will be used to support the Polkadot ecosystem for five years.
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