• A $50 million fund has been launched to help startups that use the Wormhole cross-chain messaging protocol.
• The new fund is managed by venture capital fund Borderless Capital and is backed by over 20 other blockchain development teams and venture capital firms.
• Wormhole is a cross-chain messaging protocol that allows different blockchain networks to communicate with each other and transfer assets from one network to another.

$50 Million Fund Launched for Cross-Chain Ecosystem

A $50 million fund has been launched to help startups that use the Wormhole cross-chain messaging protocol, according to a May 18 announcement. The new fund is managed by venture capital firm Borderless Capital, which is backed by over 20 other blockchain development teams and venture capital firms, including Circle, Polygon Ventures, Solana Foundation, Jump Crypto and others.

Wormhole: A Cross-Chain Messaging Protocol

Wormhole is a cross-chain messaging protocol that allows different blockchain networks to communicate with each other and transfer assets from one network to another. For example, users can use Wormhole to transfer Ether (ETH) from the Ethereum network to the Solana network. It currently supports more than 20 different networks.

Expansion of Partnerships

In January 2021, crypto exchange Uniswap chose Wormhole as its official bridging protocol for its cross-chain governance between Ethereum and BNB Network. On April 26th 2021, Wormhole also integrated with Circle’s Cross-Chain Transfer Protocol, allowing for simpler transfers of USD Coin (USDC) from Ethereum to Avalanche.

Anti Maxi Fund

The Anti Maxi Fund will provide financial resources for startups innovating cutting edge apps or infrastructure tools that span multiple ecosystems. According to David Garcia CEO & Managing Partner of Borderless Capital this fund aims “to empower builders to transcend the limitations of individual ecosystems,” paving the way for exponential growth in decentralized applications and protocols.

Conclusion

The launch of this $50 million Anti Maxi Fund will provide financial support for innovative projects within the Web3 economy while providing an easier way for users to send assets across various blockchains using their existing wallets or platforms such as Uniswap or Circle’s Cross Chain Transfer Protocols. This could potentially lead towards wider adoption of decentralized technology in mainstream markets across various industries in the days ahead