Axelar launches $60M startup ecosystem program
The program aims to accelerate the development of decentralized applications and protocols to replace centralized exchanges. The proof-of-stake (PoS) Blockchain Axelar launched on Dec. 19 a $60 million startup funding program dedicated to accelerating the development of decentralized applications and protocols that can replace centralized exchanges. The initiative is backed by over 15 Blockchain investors. Dubbed Axelar Ecosystem Startup Funding Program, the initiative was designed to foster the development of Web3 applications addressing global issues that cannot be solved by the centralized internet. To qualify for funding, projects must also safeguard digital sovereignty, security and privacy, and work to onboard masses easily without unnecessary friction between specific blockchains or tokens, noted the company. Sergey Gorbunov, Axelar co-founder and CEO, told Cointelegraph about the development: "2021-2022 saw an unprecedented influx of new developers into Web3. In 2023, w...