The XDC Network Secures $50M From LDA Capital to Drive Ecosystem Development
3.10.2022 07:00:00 EEST | Business Wire | Press release
The founders of the XDC Network have leveraged a portion of their personal token allocations to secure a $50 million commitment from global alternative investment group 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 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.
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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 already grown relentlessly and 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 (to name but a few) all planting roots in the network in recent months. And, with the addition of LDA’s support, the pace of growth will only accelerate further.
“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.” - 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.” - Atul Khekade, Co-founder XinFin (XDC) Network.
“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.” - commented Anthony Romano, LDA Capital Ltd.
About LDA Capital
LDA Capital is a global alternative investment group with expertise in cross border transactions worldwide. Our team has dedicated their careers to international & cross border opportunities having collectively executed over 250 transactions in growth stage businesses across 43 countries with aggregate transaction values of over US$11 billion. For more information please visit: www.ldacap.com; For inquires please email: info@ldacap.com.
About XDC Network
The XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM- (Ethereum virtual machine) compatible, Layer 1 blockchain that has been operationally successful since 2019. The network obtains consensus via a specially delegated proof-of-stake (XDPoS) technique that allows for 2-second transaction times, near-zero gas expenses ($0.0001), over 2000 TPS, and interoperability with ISO 20022 financial messaging standards. The XDC Network powers a wide range of novel blockchain use cases that are secure, scalable, and highly efficient.
Website: www.xinfin.org
*Source: AETOSWire
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Contact information
Nadar Suresh
suresh@xinfin.org
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