DuckChain Secures $5 Million in Funding and Announces the Yellow Duck Mission Hackathon

Driving the Next Wave of Decentralized Applications

DuckChain, a layer-2 solution designed for the TON blockchain, has successfully raised $5 million in funding from leading investors, including dao5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove Ventures, Skyland Ventures, GeekCartel, Gate.io, and Presto. This funding round represents a significant turning point for the project, enabling it to improve its EVM compatibility and attract new users from other blockchain communities.

Angel investors from prominent industry projects, such as CamelotDEX and Quantstamp, also participated in the funding round. With this financial support, DuckChain aims to bring new liquidity and foster a diverse ecosystem for the TON network.

Strategic Partnerships and the Yellow Duck Mission Hackathon

DuckChain has announced partner agreements with Arbitrum, OKX Wallet, OnePieceLab, and other well-known industry companies to strengthen its position in the blockchain market. Together, they are launching the Yellow Duck Mission hackathon, which aims to bring developers, creators, and innovators together to create the next generation of decentralized applications within the DuckChain ecosystem.

The hackathon, which takes place from December 15, 2024, to January 15, 2025, features a total prize pool of $1 million in DuckChain Tokens. The competition is divided into several tracks, including:

  • Meme dApps
  • DeFi apps
  • Telegram-powered dApps
  • AI solutions
  • Infrastructure tools

Top-performing projects will receive $500,000, creative projects will receive $200,000, and the most community-engaged initiative will receive $50,000. Participants will also have the opportunity to raise awareness internationally, attract investors, and present their new technology to the Web3 community.

About DuckChain

DuckChain is a layer-2 solution compatible with EVM, designed for the TON blockchain. It was created with assistance from TonScale Labs and Arbitrum to offer scalability and liquidity. By connecting TON with the Ethereum Virtual Machine (EVM) and Bitcoin ecosystems, DuckChain aims to draw in a wide range of users, resolving scalability concerns and improving interoperability.

With this financial support and strategic partnerships, DuckChain is well-positioned to contribute significantly to the development of the TON ecosystem by promoting decentralized solutions that are effective, scalable, and inclusive.

Stay up-to-date with the latest news and developments in the world of cryptocurrencies, investing, and finance on Global Crypto News.

Post Views: 0