DuckChain, a layer-2 solution built for the TON blockchain, has successfully raised $5 million in funding and formed strategic partnerships with key players in the crypto space. This funding round saw participation from top investors, including dao5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove Ventures, Skyland Ventures, GeekCartel, Gate.io, and Presto, all of whom have backed the TON ecosystem layer-2 project.
As DuckChain seeks to improve the scalability and usefulness of the TONNE blockchain, this investment signals a turning point in its expansion. The money will mostly be utilised to increase DuckChain’s EVM interoperability, therefore allowing it to draw users from other blockchain communities, provide new liquidity, and support a varied ecosystem. DuckChain’s developments ultimately will help the larger TONNE network.
Apart from the funding, DuckChain has established alliances with behemoths of the sector including Arbitrum, OKX Wallet, and OnePieceLab. These collaborations seek to confirm DuckChain’s place in the blockchain scene. Designed to encourage developers, creators, and innovators to create the next generation of distributed apps (dApps) inside the DuckChain ecosystem, together they are starting the Yellow Duck Mission Hackathon.
With DuckChain Tokens valued at $1 million, the hackathon, scheduled for December 15, 2024, till January 15, 2025, boasts It aims to inspire creative ideas in sectors including distributed finance (DeFi), apps driven by artificial intelligence, and meme-based platforms.
Categories for awards consist:
Projects that excel: $500,000
$200,000 for creative initiatives
Most projects involving communities: $50,000
Along with attracting investors and getting worldwide exposure, participants will have the chance to present their work to the global Web3 community.
Tracks open for the hackathon consist:
Meme Apps
DeFi apps using Telegram-powered dApps
Solutions driven by artificial intelligence
Tools for infrastructure
Participants can register using the DuckChain Hacker Portal; entries open on December 15, 2024.
By linking TONNE, the Ethereum Virtual Machine (EVM), and Bitcoin ecosystems, DuckChain hopes to improve scalability and liquidity within the TONNE ecosystem. Designed with help from TonScale Labs and Arbitrum, DuckChain solves important scaling issues and increases interoperability.
DuckChain’s new financing and strategic alliances will help to greatly influence the TONNE ecosystem by supporting scalable, inclusive, and efficient distributed solutions based on decentralisation.
