Axelar, a Canada-based Web3 developer platform, has raised USD 60 million from more than 15 blockchain investors including Dragonfly Capital, DCVC, Blockchange, and Morningstar Ventures to launch the Axelar Ecosystem Startup Funding Program to fund Web3 startups and accelerate the development of decentralized applications and protocols on all blockchains.
The program will connect developers with Web3 investors participating in the program and operate hackathons, meetups, and grant programs to help developers using Axelar as infrastructure to build interchain dApps.
The company also noted that to qualify for the funding, developers must solve issues that the centralized web cannot address, safeguard digital sovereignty, security and privacy, and easily onboard masses without any friction between blockchains or tokens.
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