As a seasoned analyst with over two decades of experience in the tech and crypto industries, I find myself impressed by DuckChain’s recent moves. The $5 million funding round, backed by some heavyweights in the crypto space, signals a strong vote of confidence in their vision and technology.
As an analyst, I’m thrilled to share that I’m part of the DuckChain team as we collaborate with prominent figures in the crypto sphere to spearhead the development of the upcoming wave of decentralized applications. We’re excited to unveil our latest initiative: the Yellow Duck Mission Hackathon! This event offers a fantastic opportunity for developers to showcase their skills and contribute to the growing ecosystem of DuckChain.
Notable investors such as dao5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove Ventures, Skyland Ventures, GeekCartel, Gate.io, and Presto took part in a $5 million funding round for the DuckChain project, which is part of the TON ecosystem’s layer-2 development.
With this funding, the DuckChain project reaches a significant milestone in its mission to enhance the scalability and capabilities of the TON blockchain. This financial support will enable DuckChain to boost its compatibility with the Ethereum Virtual Machine (EVM), thereby attracting users from various blockchain communities. This influx of new users will not only bring fresh liquidity but also foster a vibrant, diverse ecosystem for both DuckChain and ultimately the TON network as a whole.
DuckChain secured a $5 million investment, with support from investors like daofive, Offchain Labs, Kinetic Capital, DWF Ventures, Oak Grove VC, Skyland VC, Geek Cartel, Gate.io, Presto Labs, and more. Additionally, angel investors from prominent projects such as CamelotDEX and Quantstamp also participated in this funding round.
— DuckChain (@Duck_Chain) December 20, 2024
DuckChain has formed strategic partnerships with Arbitrum, OKX Wallet, OnePieceLab, and other prominent companies in the blockchain sector to bolster its presence in this market. In collaboration, they are launching the Yellow Duck Mission hackathon aimed at attracting developers, content creators, and inventive minds to build the future of decentralized applications within the DuckChain network.
From December 15, 2024, to January 15, 2025, the hackathon, offering a prize fund of $1 million in DuckChain Tokens, is designed to foster creative problem-solving in areas such as decentralized finance protocols, intelligent application development, and meme-centric platforms.
1st Place winners will be awarded $500,000, while creative ventures will receive $200,000. The project with the highest community involvement will win $50,000. Additionally, participants stand a chance to promote their initiatives globally, attract potential investors, and demonstrate their innovative technology to the Web3 community.
Meme dApps, DeFi apps, Telegram-powered dApps, AI solutions, and infrastructure tools are among the tracks available to participants. On December 15, 2024, submissions will begin, and participants can register on the DuckChain Hackathon Portal.
DuckChain is a scaling solution tailored for the TON blockchain that works alongside Ethereum Virtual Machine (EVM). It was developed with help from TonScale Labs and Arbitrum, offering enhanced scalability and liquidity. By linking TON to both the Ethereum Virtual Machine (EVM) and Bitcoin ecosystems, DuckChain aims to attract a diverse user base. This connection addresses scalability issues and enhances interoperability between these networks.
Thanks to this financial backing and collaborative alliances, DuckChain stands ready to make a substantial impact on the advancement of the TON system by advocating for decentralized approaches that are efficient, expandable, and welcoming to all users.
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2024-12-20 13:09