The XDC Network has allocated a portion of its tokens to secure a $50 million commitment from LDA Capital Limited, a global alternative investment firm. This funding will support the development and expansion of Layer 2 projects within the XDC Ecosystem, as well as enhance network adoption and utility.
Since its introduction in 2019, the XDC Network has successfully launched various projects such as DEXs, Metaverses, NFT marketplaces, oracles, decentralized email providers, cloud storage, payment dApps, legal document repositories, and tokenized real-world assets. The number of projects built on the XDC Network has been growing rapidly and exponentially. With the assistance from LDA, this growth will be further accelerated.
Ritesh Kakkad, the co-founder of XinFin and the XDC Network, believes that their partnership with LDA will usher in an exciting new era for the XDC Network. It will enable significant growth of the Layer 2 ecosystem across different use-cases, with a focus on bringing more value through excitable dApps, DEXs, TradeFi/DeFi, and advanced products.
Anthony Romano from LDA Capital Ltd expressed satisfaction with the progress made by the XDC ecosystem within the XDC Network. In addition to providing funding, LDA will also offer strategic advice and support to help the XDC Blockchain Network establish itself as a market leader.
Furthermore, the collaboration between the XDC Network and LDA will drive technology innovation and global adoption of the networks.