Axelar, the inter chain communication protocol, announced a US $60 million support plan aimed at promoting the independent innovation of web3 startups during the bear market period of the stock market.

"The Axelar Ecosystem Venture Capital Program aims to create a group of developers who can develop Web3 products comparable to all products on the centralized Internet."

Taking full account of the encryption natural environment at this stage, such assets are likely to become the core points of real estate developers looking forward to entering this field and newly established companies that need assets to survive the encryption winter.

Axelar said that the Fund "is faced with preparing capital projects for financing organizations in advance", and the Axelar free fee plan "is applicable to artistic and creative link projects". The application for ecosystem support plan can be carried out through the Axelar Fund Application Form. Those who are in the "artistic and creative link" can apply for Axlar allocation according to the project website.

"The ecosystem equity financing plan is the investor of our ecosystem, committed to high-quality inter chain project flow."

According to the announcement, the Fund is applicable to "Crypto Original Ecology Investment Management Company", including Blockchange, Chorus One, Collab Currency, Cygni Capital, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Qixing Venture Capital, Nima Capital, Node Capital, North Island Venture Capital, Rockaway Blockchain Technology Stock Fund, SCB 10X, etc.

The New Development Fund aims to address the following problem items:

We will address global issues that are difficult to solve with centralized Internet technology. Maintain data territorial sovereignty, security and privacy. Quickly synchronize a lot of data to the network without unnecessary friction between certain blockchain technologies or tokens.

According to insiders, the strong support of Axelar and its partners has harmed the ecosystem.

"Many service projects come from Axel and our own ecosystem partners. For example, Circle and Polygon: we work closely with them to apply to new projects in their ecosystems. Even for senior Web3 developers, it is also possible to build cross chains.

Prime Protocol, a partner of Axelar, also commented

"Prime has cooperated with Axlar for a long time. We believe that the future is multi chain, and # DeFi must use new financial primitives to improve capital efficiency."

Dense quartz sandstoneDuring the EthCC period, he communicated with Jason Ma and mentioned that there was a great opportunity to obtain cross chain assets such as NFT based on the Axlar network. Watch a complete interview here.