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RockX Establishes $20M Investment Fund for Polkadot

RockX Establishes $20M Investment Fund for Polkadot
  • RockX launches a $20 million investment program for Polkadot.
  • Polkadot’s project funding is guaranteed in the next five years.
  • Ethereum’s long time investors support RockX’s funding initiative.

Digital asset services firm RockX establishes a $20 million fund for the Polkadot platform. This investment is said to support the DeFi platform in the next five years.

Polkadot’s Million-Dollar Investment

RockX recently developed an investment program amounting to $20 million to support the DeFi Polkadot ecosystem. This large amount of money is said to serve as the DeFi platform’s backbone in building huge projects until 2025.

In addition, RockX’s team of developers will work alongside the Polkadot’s team in creating more decentralized projects in the future. In return, Polkadot will compensate the RockX developers with DOT tokens for each project they support.

Founded in 2019, RockX was created by Alex Lam, the same founder of Rockminer, a pioneering Bitcoin and crypto mining company. RockX serves as a staking service network that enables users to stake their digital assets in selected public blockchains.

RockX Investors Are Ethereum Supporters

The program launched by RockX to support Polkadot was not just solely established by the company. It is composed of individual investors around the world who prefer not to be named. Additionally, these long-time investors had supported Ethereum in the past years.

RockX further added:

They are guys who have been in the Ethereum community since 2015 and have supported the Ethereum ecosystem in the past via investments and building projects.

Notably, over the past week, Polkadot was seen to be performing well in the crypto market. It currently ranks 6th in Coingecko with over 1.5% increase in the last 24 hours.

Meanwhile, the DeFi space today has a total value locked (TVL) of $8 billion yet it has recently hit the $9 billion mark. DeFi is consistently valued over $1 billion, a reflection of the DeFi stability against the market chaos.

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.