CHICAGO--(BUSINESS WIRE)--Kadena, the only Layer 1 Proof-of-Work (PoW) protocol to solve the Blockchain Trilemma of scalability, security, and decentralization, today formally unveils a $100 million grant program to bolster the growth and adoption of world-changing blockchain technology. The grant program is part of Kadena Eco, a strategic initiative that brings together top industry thinkers, tech talent and funding to fuel Kadena’s ecosystem growth through the development and expansion of gaming, metaverse, NFT, Web3, DeFi and DAO projects.
"The future is blockchain," said Stuart Popejoy, Founder and CEO of Kadena. "We're empowering builders to pioneer new projects that transform the world, and we're doubling down on our promise to make that happen by actively and responsibly deploying our treasury resources to ensure long-term sustainability of our ecosystem."
Led by CEO Francesco Melpignano, a seasoned blockchain engineer, entrepreneur and technologist, Kadena Eco will accelerate the growth of blockchain technology by providing builders with a unique, scalable architecture and safe smart contracts. Kadena Eco has also appointed Decasonic Founder and CEO, Paul Hsu, to serve as Chief Investment and Innovation Officer, leading investment initiatives that promote the acceleration of innovation. Their goal is to deploy capital, technical and strategic support to empower builders to develop cutting-edge projects on Kadena’s platform.
"Kadena combines the functionality of blockchain tech with the accessibility of the internet we all know and use every day, making it the perfect platform for builders to create their projects," said Francesco Melpignano. "We work with developers and builders to launch their projects and back them up with the support they need to launch into the future. We have the resources and the infrastructure to create a multi-generational, sustainable ecosystem – there’s no better time than now for builders to get on board."
Kadena's $100 million grant program is part of a larger ecosystem initiative that will help to support founders and entrepreneurs alongside Kadena Eco's other strategic components: