Open Source, Carbon-Neutral Layer-1 Blockchain XDC Network Secures $50M From LDA Capital

The XDC network secures $50 million from LDA capital to fuel ecosystem developerst

The founders of the XDC Network have leveraged a portion of their personal token allocations to secure a $50 million commitment from global alternative investment group LDA Capital Limited to accelerate the expansion and development of Layer 2 projects across the XDC Ecosystem and to facilitate network adoption and real-world utility. LDA support will help fund new businesses and entities that are laser-focused on increasing network adoption among retail and institutional participants, start-up chain activity and Total Value Locked (TVL), and support technology innovation.

Launched in 2019, the XDC network is a carbon-neutral hybrid blockchain purpose-built from the ground up to meet the growing needs of global financial institutions, retail users and entrepreneurs for fast, secure, decentralized network products. The number of (Smart Contract-based) projects built on XDC has already grown inexorably and exponentially, despite macroeconomic conditions being what they are, with DEXs, Metaverses, NFT marketplaces, oracles, decentralized email providers and cloud storage, payment -dApps, legal document stores, and real-world tokenized assets (to name a few) that have all planted roots in the network in recent months. And with the addition of LDA’s support, the rate of growth will only accelerate further.

“Our collaboration with LDA will usher in an exciting new period in the history of the XDC network by enabling unprecedented growth of the Layer 2 ecosystem across diverse applications, with an emphasis on bringing ever more value of TVL (“Total Value Locked”) to network via hyperscalable dApps, DEXs, TradeFi/DeFi and advanced products that fill the gaps between traditional and decentralized finance.” – Ritesh Kakkad, Co-Founder XinFin (XDC) Network.

“While there have been many institutional funds eager to participate in the XDC network over the years, we have always looked for true strategic partners, not just funders, who can actively and strategically advance the ecosystem while also benefiting the network , making XDC the Tier 1 of choice for institutions worldwide – in LDA, we have found such a partner.” – Atul Khekade, Co-Founder XinFin (XDC) Network.

“LDA Capital is pleased with the development that the XDC ecosystem has made in the XDC network. In addition to the funding, LDA will provide strategic advice and support to help the XDC Blockchain Network take its position as a market leader.” – commented Anthony Romano, LDA Capital Ltd.