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Cryptocurrency News Articles
GnosisDAO Approves $40M GnosisVC Ecosystem Venture Fund to Bridge the Gap Between Blockchain Technology and Practical Applications
Oct 27, 2024 at 04:11 am
GnosisDAO, the community behind the fully EVM-compatible layer 1, Gnosis Chain, has approved the proposal to finance a new $40M GnosisVC Ecosystem Venture
GnosisDAO members have approved a proposal to launch a $40 million venture capital fund to support early-stage projects aligned with the Gnosis 3.0 vision.
The fund will invest in three key areas: decentralized applications (DApps), fintech integrations, and Web3 infrastructure. It will also prioritize projects that fill gaps in the existing Gnosis ecosystem.
Some of the projects that the fund has already invested in include Monerium, Naptha AI, and Schuman Financial. These projects are building a stablecoin, decentralized AI, and Web3 infrastructure, respectively.
The GnosisDAO will contribute $20 million to the fund, while the remaining $20 million will be raised from external limited partners. The fund will be structured at an institutional grade, with some of its key aspects governed by GNO token holders.
This initiative marks a significant step in expanding the Gnosis ecosystem and accelerating the development and adoption of decentralized applications and financial technologies.
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