XDC Network Gets $50 Million Boost from LDA Capital
LDA Capital Limited, a global alternative investment organization, has invested $50 million in XinFin (XDC) Network, an open-source, enterprise-grade, EVM-compatible, Layer 1 blockchain. The money comes from the founders of XDC using the leverage they’ve created with the tokens they held. The newest XDC companies and organizations focusing on recruiting retail and institutional investors will benefit from LDA Capital’s participation.
What does the partnership mean for XDC Network?
The collaboration will facilitate the expansion of the Layer 2 ecosystem across a variety of use cases, with a focus on adding more and more valuable TVL (Total Value Locked) projects to the network. This will be accomplished by bridging the gap between centralized and decentralized finance via highly scalable dApps, DEXs, TradeFi/DeFi, and cutting-edge products.
Atul Khekade, the co-founder of XDC Network, says the company has always sought out genuine strategic allies rather than only investors. It is looking for collaborators who will help to strategically and actively advance the ecosystem while also adding value to the network. At the end of the day, they’ll need to prove that they have the drive and chops to make XDC the go-to Layer 1 for organizations throughout the globe.
Since its inception, the XDC Network has attracted the interest of numerous institutional funds. However, only a select few have made the cut. In addition to providing financial backing, LDA will also provide strategic guidance and support as XDC Blockchain Network strives to become the industry leader.
Despite the bearish crypto market, XDC has seen a significant increase in the amount of smart contract-based projects deployed on the platform. This suggests that things are looking well for the company, and it is on route to attaining larger milestones. Also, considering that LDA is bringing more than finances, we are likely to see the platform’s growth accelerate further.