Crypto exchange MEXC has announced a $300 million ecosystem development fund aimed at supporting Web3 projects over the next five years.
The initiative, unveiled at Token2049 in Dubai, is designed to support early-stage blockchain technologies, public chains, wallets, and decentralized tools critical to shaping the future of crypto infrastructure, according to a press release shared with Cointelegraph.
Selection criteria for projects looking to participate in the initiative will be announced soon.
“We are committed to strategic investment, focusing not just on exciting ideas and talented developers, but on initiatives with clear long-term potential,” MEXC chief operating officer Tracy Jin said.
She added that the priority is to back projects capable of achieving AAA status within three to five years.
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MEXC fund to invest $60 million annually
Jin explained that the exchange aims to invest approximately $50 to $60 million annually,