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• MEXC Venture’s $20 million ecosystem fund targets assist for key initiatives on Layer 1 blockchain Sei Network.
• Sei Network secured $5 million in August from traders reminiscent of Coinbase Ventures and Multicoin Capital.
• The platform plans to assist 20 dApps as its mainnet launch approaches.

MEXC, a number one Singapore-based cryptocurrency buying and selling platform, has unveiled a $20 million fund geared toward supporting initiatives on Layer 1 blockchain Sei Network.

In a weblog put up published on 4 January, MEXC stated the fund might be geared in the direction of boosting adoption throughout the Sei Network ecosystem. 

The platform, which is designed with the necessity to maximise buying and selling benefits for decentralised exchanges (DEXs) customers, is developed by Sei Labs – a group that counts former Robinhood builders, Cosmos OGs and ex-Goldman Sachs finance and technique members.

Sei Network to assist 20 dApps forward of mainnet launch

Sei Network raised $5 million in August, backed by trade gamers and different traders together with Coinbase Ventures, Multicoin Capital, Delphi Digital and Hudson River Trading. The platform plans to make use of the brand new capital injection to assist community improvement because it strikes nearer to its mainnet launch.

The group may also again 20 decentralised purposes (dApps) which are already constructing on the community.

MEXC is launching the ecosystem fund by means of its MEXC Ventures, a complete fund that appears to empower improvements throughout the crypto house by way of strategic investments. The agency additionally focuses on M&As challenge incubation and multi-manager investments.

MEXC Ventures presently holds over $100 million in belongings underneath administration and greater than 300 portfolio investments.