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Master Venture Launched $30M Funds to Support Polkadot Projects

  • To support Polkadot projects Master Venture Launched $30 M
  • A public pre-production environment for Polkadot known as Kusama.
  • The parachain slots will be deal off to the projects with the highest offers.

Asia-based private venture capital firm Master Ventures has announced on Wednesday, it has launched a $30 million venture capital fund to support projects in trying to combine with Polkadot as well as other early-stage ventures building on the protocol.

The platform built to connect private and consortium chains, public and permissionless networks, oracles, and future technologies that yet to create known as Polkadot. In this, the internet facilitated where independent blockchains can exchange information and transaction in a trustless way through the Polkadot relay chain. DOT is the native token of Polkadot.

Moreover, a single network that aims to enable multiple blockchains to work together known as Polkadot. Each blockchain known as Parachain. And each network connected to Polkadot’s main network. Through parachain slot, they connected, and this is limited in number.

Hence more, A public pre-production environment for Polkadot known as Kusama. Kusama allows the developers to experiment and test new blockchains or applications before releasing them on this network.

According to the announcement by Master Ventures, Polkadot and Kusama, both aim to support the launch of over 50 parachains in the upcoming year.

Henceforth, the Master venture expected to support projects that riveling for these forthcoming parachain slots.

Furthermore, the parachain slots will deal off to the projects with the highest offers. Each of the projects has to hold Polkadot (DOT) or Kusama (KSM) depending on which deal they have to use. When engaging projects issue native tokens, it will then “airdropped” to DOT or KSM lenders.

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Ishwarya

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.

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