RockX has launched a $ 20 million investment program to support the Polkadot Ecosystem (DOT) over the next five years. Funding will be provided with a DOT token value of a maximum of $ 500,000 per project along with technical support from the team’s developers. In return, the company will receive tokens or capital from the supported projects.

RockX, which currently manages the node for Polkadot, Cosmos, Solana, Oasis and Terra, was founded by Alex Lam, who also runs RockMiner Asia (BTC) mining operations.

CEO Lam said the program was launched with financial support from a number of individual investors who requested anonymity. Describing the covert partners as notable DOT holders who are also longstanding supporters of Ethereum (ETH), he said:

“These are the people who have been in the Ethereum community since 2015 and have previously supported the Ethereum ecosystem through investments and building projects.”
Despite their financial contributions, they will have no influence over the projects that are accepted into the program – a decision that only the RockX team will make.

Although it is structured as an investment program, the group will also consider the possibility of providing any conditions for grants for some projects in the future. Although no project has been accepted into the program yet, RockX is already in initial discussions with some teams.

The announcement came just one week after Polkadot created the Polkadot Treasury, and while the investment program “has nothing to do with the Treasury,” it shares a similar vision to help “build and move projects” on the Polkadot network. Lam Sa:

“With a strong technical background, RockX will also build and deliver technology input to Polkadot.”
Southeast Asia’s largest crypto fund Signum Capital is an investor in RockX. Managing Partner John Ng Pangilinan said RockX does more than just protect Polkadot’s network as a node operator:

RockX is taking a step forward by helping the blockchain grow by leveraging its technology capabilities and investor networks. This will create a new cooperation model for the industry. “

Source: CoinTelegraph

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