LONDON, UK / ACCESSWIRE / July 8, 2024 / Launchpool is excited to announce a strategic partnership with the XDC Network, aimed at empowering select teams building on the XDC Network to raise capital through the Launchpool ecosystem. This collaboration will provide these teams with access to a community of project ambassadors as well as the combined networks of experienced advisors and builders from both Launchpool and XDC Network.
About XDC Network
XDC Network is a pioneering, carbon-neutral, and EVM-compatible Layer 1 blockchain, renowned for its enterprise-grade capabilities for RWA, Tokenization, TradeFinance and DePIN applications. Leveraging a unique XinFin Delegated Proof of Stake (XDPoS) consensus mechanism, it achieves remarkable transaction speeds of 2 seconds and over 2000 TPS, with minimal gas fees (around $0.0001). Designed for interoperability and compliance with ISO 20022 financial messaging standards, the XDC Network excels in facilitating Trade Finance, payment Processing, and Real-World Asset (RWA) tokenization. Its robust, scalable, and efficient platform underscores a commitment to innovation, making it a preferred choice for businesses seeking advanced blockchain solutions.
About Launchpool
Launchpool operates within a comprehensive ecosystem that encompasses selection, incubation, acceleration, and launch phases, advocating for an egalitarian approach. By valuing all project stakeholder groups equally, Launchpool leverages their collective strengths and aligns their incentives. This approach significantly enhances traditional blockchain fundraising strategies, often fragmented and misaligned. Allocations in private rounds are guaranteed by the platform's native currency $LPOOL, and are accessible only through KYC.
Since 2021, Launchpool's community has funded over 40 projects, with over $40 million USD, and 8 incubated projects (pre-MVP), raising approximately $5 million USD. Launchpool has collaborated with top funds, including Alphabit Digital Currency Fund, and was core to the launch of the first Techstars web3 accelerator in Europe.
Scope of the Partnership
The scope of the partnership between Launchpool and XDC Network includes both an ecosystem partnership and an acceleration program.
Ecosystem Partnership: Launchpool and XDC Network will collaborate strategically. XDC Network will facilitate introductions to projects being accelerated or incubated through joint programs with XDC Network and partners. These projects must be ready to raise a community VC round from Launchpool in the form of pre-public or public offerings and will undergo a thorough due diligence process. The partnership will also feature co-marketing activities, with a focus on education and awareness.
Acceleration Program: The program will be Europe-centric. To qualify, startups must have raised at least $100k in an initial Angel/Pre-seed round with a valuation under US $20 million, be prepared for a token launch within six months, and have at least one Tech CoFounder or Technical Partner. Additionally, startups must be willing to use 25%-50% of the investment amount for token deployment, listing on CoinMarketCap, and liquidity on exchanges, pair their native token against XDC or FXD (a US$ stablecoin over-collateralized with XDC), and be built exclusively on XDC Network for the launch. Projects previously incubated by Launchpool via Launchpool Labs will be shortlisted if they meet these criteria.
Grants: XDC will consider providing grants for projects that integrate the XDC chain. Projects successfully deploying functional products on the XDC Network (Mainnet) will be eligible for a $10,000 grant. Additionally, will expedite access to demo day, connecting them with XDC's network of venture capitalists. (Subject to DD and approval by XDC Network). The grant is only open to the projects that apply to the program via Launchpool.
Quotes from Both Partners
Launchpool: "We are thrilled to partner with XDC Network to bring forward a seamless and efficient ecosystem for web3 projects. This partnership will leverage the strengths of both Launchpool and XDC Network to support innovative teams and provide funding opportunities for our community. We aim to support projects that are building or integrating with XDC's tech stack. This is our first technology centric partnership for 2024, and an opportunity to advance blockchain development. It goes without saying that working with Sonny, we're excited to see this program launched and managed by women of web3". - Roxana Nasoi, CEO at Launchpool.
XDC Network: "At XDC Network, we are thrilled to partner with Launchpool for their acceleration program. This collaboration highlights the key benefits of building on the XDC Network, including unparalleled support from a robust VC network for co-investment opportunities alongside XDC's own investments. Our ecosystem offers comprehensive technical support, extensive visibility through CoinMarketCap and exchange listings, and strategic partnerships with leading accelerators like Tenity, Plug and Play, and Brinc. We are committed to investing in innovative dApps and fostering growth in the blockchain space in the coming years." - Sonny Mohanty, Head of Ventures Ecosystem at XDC Network.
A more in-depth overview of the partnership, including details about its debut cohort, will be announced in due time. Stay tuned for updates and join us in celebrating this exciting new chapter for both Launchpool and XDC Network.
For more information, please visit Launchpool (Launchpool.xyz) and XDC Network (XinFin.org).
Media Contact:
Launchpool:
Georgia Rooney
pr@launchpool.xyz
XDC Network:
Nadar Suresh
suresh@xinfin.org
SOURCE: Launchpool
View the original press release on accesswire.com
