Kadena has announced its inaugural round of grant awards to several Web3, NFT, and DeFi projects. The selected projects are in line with the Kadena’s innovation ecosystem’s goal of fostering a blockchain that is accessible, streamlines, and poised for worldwide transformation with mainstream adoption. Indeed, Kadena is the only Layer 1 Proof-of-Work (POW) protocol that solves the Blockchain Trilemma of security, scalability, and decentralization.
From the applications received since the inception of its grant program in April 2022, Kadena Eco has identified nine projects as its first set of recipients. This includes:
Electron Labs: The company is founded on the zero-knowledge (ZK) technology with its main mission being to integrate two crucial infrastructure components to blockchains; on-chain privacy and horizontal scaling.
Crankk: It focuses on distributed wireless networks that offers coverage for various IoT devices including GPS trackers and smart meters.
Eucalyptus Labs: In addition to shipping products, this software company adds support in infrastructure and developer UX.
The Database of Native Assets (DNA): It is a token-based connection between the digital and physical worlds. In an attempt to reduce the risk of counterfeiting, it enables creators mint personalized DNA tokens with the ability to prove their products’ authenticity and provenance.
Kalend Finance: As a decentralized lending protocol, it has interest rates that are set algorithmically and founded on the principles of supply and demand. Subsequently, its users are in a position to exchange assets’ time value frictionlessly on Kadena. Insurance pools and instant liquidation are some of the embedded benefits.
Hypercent: Through this platform, verified projects are able to set up and build effortlessly on the Kadena blockchain. This includes allowing its users to swap and stake tokens.
KDLaunch: It is not only a decentralized initial DEX offering (IDO) platform but also an NFT marketplace and launchpad.
Lago Finance: It provides foundational DeFi infrastructure. This includes being a Kadena-native stablecoin as well as a bridge to Ethereum that eases liquidity inflow to Kadena.
Unmarshal: As a multi-chain data infrastructure, it provides easy access to data on NFT, DeFi, and Metaverse. Built-in composability and sustainability. Its data indexing protocol ensures a frictionless access to on-chain data for the DeFi applications.
With regards to the grant program, the CEO of Kadena Eco, Francesco Melpignano, has stated, “Kadena’s first cohort of grant recipients embody the promise of Web3, inviting curiosity and innovation in blockchain. As Web3 innovation rapidly expands, we’re excited to be at the forefront of bringing the best of blockchain technology to the mainstream.”
The grant recipients use Chainweb, Kadena’s multichain protocol, as well as Pact – a smart contract language.
About Kadena Eco
Kadena is founded on blockchain’s potential to revolutionize the way the world transacts and interacts. In an attempt to realize this goal, it has redefined the blockchain technology as well as its connective ecosystem. Kadeno Eco is an innovation network that focuses on the mainstream adoption of DeFi, NFTs, and Web3.
