Web3 investment fund, LongHash Ventures, has announced a partnership with Terraform Labs to launch the LongHashX Accelerator program. The program is geared toward helping project founders and startups establish their projects on the Terra ecosystem. The project mirrors similar projects launched by LongHash Ventures on Polkadot, Algorand, Filecoin and other networks. Typically, LongHash Ventures funds chosen projects with up to $500,000.
Besides funding Web3 protocols, LongHash Ventures has a deep understanding of the Web3 ecosystem. Also, it links up successful projects with its rich network of investors and founders. Therefore, with this type of value addition, the Terra blockchain will get more than increased monetary inflows. The winning projects pass through a thorough scrutiny process. With the high competition, the projects will certainly bring greater value to the Terra blockchain and ecosystem.
Emma Cui, Founding Partner of LongHash Ventures, expressed her delight at working with Terra. Particularly, she expressed her admiration for the Terra blockchains’ development of various Web3 protocols. “The collaboration gives us an opportunity to accelerate and invest in the next generation of projects building on Terra” she added.
Starting in June 2022, ten projects will participate in the LongHashX Accelerator Terra cohort and complete a 12-week training course. Six areas of support and guidance will be in focus: product strategy and design, tokenomics, governance, tech mentorship, community building, and fundraising.
Also, participants can expect to attend weekly workshops as well as fireside discussions with prominent business leaders. Weekly one-on-one issue solving sessions with venture builders and mentor office hours are also part of the program. There will be a Demo Day at the end of the session, where the projects will have the opportunity to present their ideas to investors.
The Terra protocol is a decentralized and open-source public blockchain protocol for algorithmic stablecoins like UST. It is built off the Cosmos SDK and employs the Tendermint Consensus for a next-generation security provision. To keep track of fiat currencies tied to its stablecoins, it uses a decentralized Oracle voting process and open market arbitrage incentives. The network’s native token, the LUNA token, stabilizes the demand for UST stablecoin.
About LongHash Ventures
Launched in 2021, LongHash Ventures is an investment fund offering funding and technical growth support for Web3 projects. Particularly, it works with project founders and developers to scale up projects accelerate their growth and reach their full potential. It has previously invested in Balancer, Acala, Instadapp, and Zapper projects. To date, the VC has helped establish 50+ Web3 projects.