The XDC Network founders have leveraged a portion of their token allocations to secure a $50m from LDA Capital Limited to accelerate the expansion and development of Layer 2 projects across the XDC Ecosystem and to facilitate network adoption and real-world utility.
LDA Capital Limited support will help fund new ventures and entities laser-focused on increasing network adoption among retail and institutional participants, jumpstarting on-chain activity and Total Value Locked (TVL), and supporting technological innovation.
What is the market offering of the XDC Network?
Launched in 2019, the XDC Network is an enterprise-grade, carbon-neutral, hybrid blockchain purpose-built from the ground up to meet the growing needs of global financial institutions, retail users, and entrepreneurs for fast, secure, decentralized network products.
The number of (Smart Contract based) projects built on XDC has grown exponentially, despite macro-economic conditions being what they are, with DEXs, Metaverses, NFT marketplaces, oracles, decentralized email providers and cloud storage, payment dApps, legal document repositories, and tokenized real-world assets all planting roots in the network in recent months. And, with the addition of LDA’s support, the pace will only accelerate further.
What were the executives’ thoughts on the funding?
“LDA Capital is pleased with the developments made in the XDC Network by the XDC ecosystem. In addition to its funding, LDA will offer strategic counsel and support to help XDC Blockchain Network assume its position as a market leader.” – said Anthony Romano, LDA.
“Our collaboration with LDA will usher in an exciting new period in the XDC Network’s history by enabling unprecedented growth of the Layer 2 ecosystem across various use-cases, with an emphasis on bringing ever more value TVL (“Total Value Locked”) to the network via hyper-scalable dApps, DEXs,TradeFi/DeFi and advanced products filling the gaps between traditional and decentralized finance,” said Ritesh Kakkad, Co-founder XinFin (XDC) Network.
“Though there have been many institutional funds eager to participate in the XDC Network over the years, we’ve always looked for genuine strategic partners, not just funders, who can actively and strategically advance the ecosystem, while bringing utility to the network, and making XDC the preferred Layer 1 for institutions the world over–in LDA, we’ve found such a partner,” commented Atul Khekade, Co-founder XinFin (XDC) Network.