‘Open Finance’ Project Findora Launches $100M Ecosystem Fund

Privacy blockchain project Findora is launching a $100 million ecosystem fund “to accelerate the growth and development” of its community, the company announced on Wednesday.

• Findora also announced that after more than three months of testing, staking and delegation would be possible on the Findora Mainnet Beta.

• Findora described the fund as “part of a broader community-led commitment to support Findora ecosystem research, development and infrastructure projects building upon Findora’s privacy-preserving technology.”

• Developers will be able to apply for grants through the initiative.

• By staking on the Findora Mainnet Beta, stakers will be able to earn an annualized reward rate of up to 250%, the company said.

• Last December, Findora closed an eight-figure funding round that included a number of notable investors, including Allchaineed, Krypital Group, Axia8 Ventures, Cabin VC, Powerscale Capital and Jack Lee, the founding partner of Foxconn’s financial platform, FNConn.

• The amount of funding was not disclosed but the company told CoinDesk it was in “the tens of millions.”

Read more: Foxconn’s Jack Lee Join 8-Figure Round for ‘Open Finance’ Project Findora