XDC Network Acquires $50 Million From LDA Capital to Foster Ecosystem
The XDC Network has utilized a portion of its token allocations to help secure a $50 million commitment from global alternative investment firm LDA Capital Limited. This will aid in developing and expanding Layer 2 projects across the XDC Ecosystem and enhance network adoption and utility.
The XDC Network, introduced in 2019, has recently established DEXs, Metaverses, NFT marketplaces, oracles, decentralized email providers and cloud storage, payment dApps, legal document repositories, and tokenized real-world assets. The number of projects built on XDC has already increased relentlessly and exponentially. The inclusion of LDA’s assistance will only accelerate the rate of growth.
Atul Khekade, Co-founder XinFin (XDC) Network said that
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.
According to Ritesh Kakkad, co-founder of XinFin (XDC Network), their partnership with LDA will lead the way in an exciting new era in the history of the XDC Network by enabling enormous growth of the Layer 2 ecosystem across various use-cases. This growth will focus on bringing ever more value TVL (“Total Value Locked”) to the network via excitable dApps, DEXs, TradeFi/DeFi, and advanced products
Anthony Romano, LDA Capital Ltd, commented that
“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.”
Additionally, the collaboration between XDC Network and LDA leads to great technology innovation and global adoption of the networks.