South Korea Solana’s expansion gets a 20 million dollar boost


News related to Solana are Viewed multiple headlines In recent months. Blockchain now seems to have made significant progress in South Korea, providing a lot of funding for the surrounding ecosystem.

“As one of the world’s largest cryptocurrency markets, South Korea has a very high cryptocurrency adoption rate,” a representative of ROK Capital, a South Korean company, told Cointelegraph. “By expanding the Solana ecosystem in South Korea, we hope to increase the visibility and adoption rate of decentralized applications on the Solana ecosystem, and encourage and incubate local teams to build on Solana.”

A public statement provided to Cointelegraph on Thursday stated that the new $20 million Solana Ecological Fund built by ROK Capital and the Solana Foundation is now available to help the world of solutions based on the Solana blockchain. Several projects have received funding, including Synthetify and Symmetry.

Brain Kang, general partner of ROK Capital, said: “In addition to capital injection, this new fund will provide tailor-made services for successful accelerated projects in South Korea.”

“By cooperating with Solana, the company hopes to lead a series of Solana-focused infrastructure projects, including projects related to Web3, Defi, and NFT,” the statement from Korea Capital said. “The focus will be on accelerating Solana’s expansion into the Korean market,” the statement added, followed by the additional involvement of DeSpread and FactBlock.

Brought news earlier this morning Another effort to stimulate the Solana ecosystem, Marked as Solverse Accelerator. The program is supported by at least 21 companies and will provide guidance and other resources to support projects built on the Solana network.We also saw an open Solana-based non-fungible token marketOr NFT, called Metaplex.

Solana’s native token SOL, sit Ranked 16th on the CoinMarketCap ranking list, the price of each token at the time of issuance was US$39.01, and the market value was approximately US$10.6 billion.