DuckChain announces strategic partnerships and secures $5M in financing

DuckChain is joining forces with major crypto players to drive the next wave of decentralized applications and announced its Yellow Duck Mission hackathon.

Leading investors including dao5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove Ventures, Skyland Ventures, GeekCartel, Gate.io and Presto participated in a $5 million funding round for the TON ecosystem layer-2 project DuckChain.

This funding represents a significant milestone for the project as DuckChain works to improve the scalability and functionality of the TON blockchain. This funding will help the project improve EVM compatibility, and DuckChain will be able to attract new users from other blockchain communities, introduce new liquidity, and develop a diverse ecosystem for DuckChain and ultimately the TON network as a whole.

DuckChain successfully raises $5 million @daofive, @OffchainLabs, @KeneticCapital, @DWFVentures, @OakGroveVC, @skylandvc, @geek_cartel, @gate_io, @Presto_Labset al.

Angel investors from leading sector projects @CamelotDEX And @Quantstamp Moreover… pic.twitter.com/G6588Eeuem

— DuckChain (@Duck_Chain) December 20, 2024

DuckChain also announced joint 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 to challenge developers, creators, and innovators to create the next generation of decentralized applications in the DuckChain ecosystem.

The hackathon, which will take place from December 15, 2024 to January 15, 2025, with a total prize pool of $1 million in DuckChain Tokens, aims to promote innovative solutions in areas such as DeFi protocols, AI-powered applications, and meme-focused applications. platforms.

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

Meme dApps, DeFi applications, Telegram-supported dApps, artificial intelligence solutions and infrastructure tools are among the ways available to participants. Applications will open on December 15, 2024, and participants will be able to register on the DuckChain Hackathon Portal.

DuckChain is an EVM-compatible layer-2 solution designed for the TON blockchain. It was built with the help of TonScale Labs and Arbitrum to offer scalability and liquidity. By connecting TON to the Ethereum Virtual Machine (EVM) and Bitcoin ecosystems, DuckChain aims to attract a wide range of users, solve scalability concerns, and improve interoperability.

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