RockX, a digital asset development company, has just created a $20M investment program focused on the Polkadot ecosystem, the sixth largest crypto in the market by capitalization, Cointelegraph has reported.
The initiative plans to support the Polkadot Ecosystem (DOT) over the next 5 years. Each project will be able to receive up to $500,000 in DOT tokens as well as technical support. In return, the company will receive tokens or capital from the projects.
It is worth mentioning RockX currently manages a node for Polkadot, Cosmos, Solana, Oasis and Terra.
According to Alex Lam, the company's CEO, the investment program has received financial support from several anonymous individual investors who own large amounts of DOT tokens:
"They are guys who have been in the Ethereum community since 2015, and have supported the Ethereum ecosystem in the past via investments and building projects."
In spite of the financial assistance provided by the investors, they will not have any influence on the selection of projects that are accepted into the program.
Even though this is an investment program, RockX may also provide grants to certain projects in the future.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.