XinFin (XDC) Network, an open-source, carbon-neutral, enterprise-grade, EVM compatible, Layer 1 blockchain has banked a $50 million investment with the global alternative investment group, LDA Capital Limited via the leverage made available by XDC founders from the tokens personally allocated to the founders.
The co-founders of XDC Network, Ritesh Kakkad, and Atul Khekade, are optimistic that the collaboration will ramp up network adaptation and real-world use cases. More than a funder, the LDA is perceived as a strategic partner. The XDC founders are certitude over the LDA for its active and strategic involvement in the network to advance the ecosystem.
Ritesh stated:
“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.”
LDA Capital onboarding benefits the new ventures and entities in the XDC dedicated to bringing in new retail and institutional members. Since its launch in 2019, the XDC’s smart contract based projects have extended exponentially. This new partnership is expected to stimulate the expansion and development of Layer 2 projects within the XDC Ecosystem.
Anthony Romano, LDA Capital Ltd. stated:
“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.”
Apart from the macro-economic benefits, projects like DEXs, Metaverses, NFT marketplaces, oracles, decentralized email providers & cloud storage, payment dApps, and legal document repositories are all roots of XDC utilities. The inclusion of LDA support will only boost the rate of growth in the overall XDC ecosystem.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
