Mantle EcoFund's $200M Fund To Propel Web3 Innovation
Portfolio Pulse from Murtuza Merchant
Mantle EcoFund has begun deploying its $200 million fund to support Web3 innovation. Beneficiaries include LiquidX, Valent, and Range Protocol. The fund's strategy includes collaboration with venture studios led by founders with a strong Web2 background. A recent DAO proposal, MIP-26, approved by the Mantle community, has sanctioned up to a combined 60 million Kava (CRYPTO: USDX), 30,000 Ethereum (CRYPTO: ETH), and 120 million Mantle (CRYPTO: MNT) in liquidity provision for EcoFund-invested decentralized applications (dApps).
September 15, 2023 | 2:05 pm
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Ethereum (ETH) is part of the liquidity provision sanctioned by the Mantle community for EcoFund-invested decentralized applications (dApps). This could potentially increase the demand for ETH in the short term.
The Mantle community has sanctioned up to 30,000 Ethereum (ETH) as part of the liquidity provision for EcoFund-invested decentralized applications (dApps). This means that these dApps will be using ETH as part of their operations, potentially increasing the demand for ETH. Increased demand often leads to an increase in price, hence the positive score.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70