[PRESS RELEASE – Singapore, Singapore, 20th September 2022]
LongHash Ventures, Asia’s first Web3 accelerator and one of Asia’s leading Web3 venture funds, today announced a partnership with Web3’s cross-chain communication network Axelar to launch LongHashX Accelerator Cohort 10 Axelar Cohort.
Following the success of its first grant program, Axelar is launching its first accelerator program with LongHash Ventures. LongHashX Accelerator Cohort 10 is designed to accelerate early-stage teams and projects to build cross-chain.
Given LongHash Ventures’ multi-chain paper, Axelar is a natural ecosystem partner for the LongHashX accelerator, as the program aims to accelerate Web3 projects with multi-chain use cases. Axelar connects to more than 20 blockchain ecosystems, enabling dApp users to interact with any asset or application on any chain with one click.
Emma Cui, CEO and Managing Partner of LongHash Ventures, said: “We are delighted to partner with the Axelar Foundation to launch the Axelar Network’s first global accelerator. Axelar provides the infrastructure needed to enable a secure multi-chain future, which is in line with LongHash Ventures’ overall thesis is consistent. We are particularly excited to invest in and accelerate projects that will consider using various ecosystems and connecting to Axelar in a modular fashion to get the best out of each chain and bring us closer to multi-chain world.”
Axelar decided to partner with LongHash Ventures because of the latter’s extensive experience in running accelerator programs. In addition, LongHash Ventures has deep roots and networks in the Asia Pacific region, while providing project teams with access to world-class mentors and investors around the world.
Sergey Gorbunov, co-founder of the Axelar Foundation, said: “The success of the Axelar grant program demonstrates global interest in building chain-agnostic applications. We are already seeing developers and investors support this movement to help the next Hundreds of millions of users and streamlined multi-chain interactions. Axelar’s unmatched security and features make its ecosystem a funnel for forward-thinking Web3 dApp teams. We look forward to accelerating these teams with LongHash Ventures as an experienced and well-connected global partner improvement.”
LongHash Ventures is looking to support multi-chain projects that connect to the Axelar network and leverage its Generic Messaging (GMP) capabilities, which enable developers to call any function on any dApp on any chain. Using GMP, teams can build “super applications” that combine functions and assets across chains into a one-click experience for users. LongHash Ventures is also interested in teams leveraging different chains in a modular fashion, such as storage, off-chain computing, token liquidity, NFT minting, privacy, and more.
Axelar will support the projects selected for the program by providing developers and technical support to help them implement multiple chains and explore the possibility of modular implementations to get the most out of each chain for their specific use cases.
LongHashX Accelerator Cohort 10 will include a series of workshops and fireside chats covering six modules namely Web3 Product Strategy and Design, Token Economics, Governance, Technical Mentoring, Community Building and Fundraising.
Selected projects will receive an up-front investment of $100,000 from LongHashX and support to help them raise funds from other investors. LongHashX Accelerator’s internal risk builders will also conduct weekly one-on-one problem-solving sessions to help founders address the challenges they face across the program’s six modules.
Applications from projects still in the R&D or Idea stage are also encouraged. These projects are eligible to be considered for Axelar’s grant programs, which target the earliest stages of development. Projects that are successfully funded by Axelar will be invited to join a fireside chat in the LongHashX accelerator program.
The application deadline for the LongHashX Accelerator Cohort 10 is November 11, 2022. Project teams interested in applying to the program can apply here. The LongHashX Accelerator will accept 10 projects from Axelar Cohort.
About Axelar
axis Provides secure cross-chain communication. This means that dApp users can interact with any asset, any application on any chain with one click. You can think of it as the Stripe of Web3. Developers interact with simple APIs on a permissionless network that routes messages and secures the network through proof-of-stake consensus.
Axelar has raised funds from top investors including Dragonfly Capital, Polychain Capital, Coinbase and Binance. Partners include major proof-of-stake blockchains such as Avalanche, Cosmos, Ethereum, Polkadot, and more. Axelar’s team includes distributed systems/cryptography experts and MIT/Google/Consensys alumni; co-founders Sergey Gorbunov and Georgios Vlachos are founding team members of Algorand.
About LongHash Ventures
LongHash Ventures is a leading Web3 investment fund and accelerator, working closely with founders to model Web3 and tap into Asia’s enormous potential. LongHash Ventures has invested in more than 60 projects, including Polkadot, Instadapp, Zapper, Astar, and Balancer. We work with founders to develop their project’s token economics, governance and community.
As Asia’s first leading Web 3 accelerator, LongHashX Accelerator Partnered with Polkadot, Algorand, Filecoin and more to build over 50 global Web3 projects, raising over $150 million over the past 4 years. We’re committed to our mission of enabling the growth of the next generation of the Web. LongHash Ventures is licensed by the Monetary Authority of Singapore.
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