Bitget partners with Core DAO

The firms will work together to launch a $200m ecosystem fund for decentralized applications.

Bitget derivatives trading platform has partnered with Core Decentralized Autonomous Organization (DAO).

The $200m ecosystem fund will support decentralized applications (dapps) built on the Core Network layer-1 blockchain.

The ecosystem fund – backed by cryptocurrency asset exchange MEXC as well as Bitget – will aid in facilitating early-stage projects for research and development, analysis, growth, recruitment, advertising and marketing.

The fund follows the launch of the Core community mainnet and the first airdrop of its CORE token, which was reportedly claimed by over two million people.

Aside from the $200m investment, Bitget will also support Core’s ecosystem fund and its technological plans for the future.

The collaboration includes the listing of Core projects and the opening of the Core Trading Zone and its integrated BitKeep wallet.

Additionally, Bitget plans to become one of the validators of the Core network by supporting its staking on the exchange.

With more than eight million users, the platform believes it can provide the Core DAO ecosystem with the necessary liquidity and staking it needs to grow in the crypto sector.

Bitget managing director Gracy Chen said: “This investment is another show of proof of our commitment to supporting blockchain space from various angles. We have to keep in mind that the purpose of blockchain is to link the real world with web3 space, and that is exactly what we are promoting with this partnership and our support to the ecological fund.

“With our help, we are confident that Core can reach great heights and advance the real principles of decentralization, which stand on transparency and the improvement of community members' cross-chain experience.”

The partnership follows the launch of the Bitget web3 fund providing $100m to support web3 firms in Asia.

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Written by Isabella Aslam

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Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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