Hassan Maishera
Yves La Rose, the CEO of the EOS Network Foundation, announced via Twitter on Sunday that they have launched a $100 million ecosystem fund. The fund is geared towards investing in EOS projects. The ecosystem fund will be managed by EOS Network Ventures, and will exclusively be investing in #EOS projects.
He added that the goal of the fund is to make EOS the number 1 choice for Web2 businesses transitioning to Web3, and for developers that want to launch new projects. Investment proceeds from the ecosystem fund will drive value back to $EOS token holders through buyback and burns. EOS Foundation expects to grow the size of the fund significantly as they continue to foster positive relationships with crypto VCs.
EOS is a Delegated Proof-of-Stake cryptocurrency that launched in 2018 after a record-breaking ICO raising over $4.1bn. Its focus is on providing development flexibility, network scalability, and user-friendliness.
EOS is down by more than 2% in the last 24 hours and is currently trading at $0.8076 per coin.
