The announcement of Zignaly’s $100 million ecosystem fund brought a surge in altcoin prices.
The Zignaly team recently launched ZIGChain on the Cosmos blockchain and also announced a $100 million ecosystem fund. It was noted that the fund is supported by the major market maker DWF Labs.
Following the announcement, the project’s native token surged by around 20%. During the Token2049 event in Dubai, the team mentioned that the fund will be used for DeFi infrastructure development and increasing adoption.
DWF Labs manager Andrei Grachev stated:
ZIGChain will enable developers to focus on what they do best: allowing asset managers to create a strong user layer and then serve as a channel between the protocol and the user base. This rare combination of developers, asset managers, and users has never been tried before on such a scale and in a decentralized manner.
The project had previously attracted attention by announcing a crypto license in South Africa.
According to CoinGecko data, ZIG surged by 20%, climbing from $0.078 to $0.093 due to the impact of the news flow. At the time of writing, ZIG is trading at $0.087.
