Polkadot Ecosystem Sees $20 Million Investment Program From RockX

Fund Projects Established By Polkadot Treasury To Increase Network Traction
Fund Projects Established By Polkadot Treasury To Increase Network Traction

RockX stands as a digital asset development company, and has recently launched an investment program in order to support the Polkadot (DOT) ecosystem. This program spans the next five years, and is worth $20 million. The investment program will see technical support from the RockX developers, as well, but it should be noted that a single project is only allowed $500,000 in DOT tokens maximum.

Mysterious Benefactors Involved

Alex Lam stands as the co-founder of RockX, with RockX itself running a node on Cosmos, Polkadot, Oasis, Solana, as well as Terra. Lam also operates RockMiner, a series of Bitcoin (BTC) mining facilities based in Asia.

Lam stated that the program itself had been launched with a number of individual investors offering their financial aid. To spice things up, he noted that these investors chose to remain anonymous, but did give a few hints. Lam explained that these mystery partners stand as prominent holders of DOT, and he noted that these investors are long-time supporters of Ethereum (ETH) as well.

Terms And Conditions Of Investors

In particular, Lam highlighted how these mysterious investors had been part of Ethereum’s community since 2015. He further noted that these mystery investors had already supported the ecosystem of Ethereum in the past, doing so through building projects and investments

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Lam made further note that these investors, while providing financially, will not hold any influence regarding which projects are accepted within the investment program. This decision is purely based on the directive of the RockX team as a whole.

While this project is structured as an investment program, the RockX team is considering awarding specific projects with no-strings-attached grants within the future. RockX has no project accepted within this program as of yet, but it has been making preliminary discussions with several teams.

Same Idea; Different Angles

This announcement comes just a week after the Polkadot Treasury was established by Polkadot itself. While it must be noted that this new investment program has no connection to the treasury, there’s a lot of shared vision between the two: Both Want to build and promote projects on the blockchain.

Lam highlighted how RockX could build and contribute to Polkadot from a technical standpoint, as RockX itself has a very significant technical background.

Signum capital stands as the largest crypto investment fund within South East Asia, and is an investor within RockX. John Ng Pangilinan stands as a managing partner, and stated that RockX serving as a node operator is doing more than just safeguard Polkadot’s network. He highlighted the investor networks and technical capabilities of RockX, noting that this will allow for a new collaborative model to be shown for the industry.

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A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.