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LongHash Ventures, Asia’s leading Web3 accelerator and one of Asia’s leading Web3 venture capital funds, today announces its partnership with Axelar, a cross-chain communication network for Web3, to launch the LongHashX Accelerator Cohort 10 Axelar Cohort.
The LongHashX 10 Accelerator Cohort
Following the success of its inaugural grants initiative, Axelar is partnering with LongHash Ventures for its first accelerator program. The LongHashX Accelerator Cohort 10 aims to accelerate the creation of teams and projects at an early stage in the cross-chain.
Axelar is a natural ecosystem partner for the LongHashX accelerator, given LongHash Ventures’ multi-chain thesis, as the program seeks to accelerate Web3 projects with multi-chain use cases. Axelar connects to over 20 blockchain ecosystems, giving dApp users the ability to interact with any asset or application, on any chain, with a single click.
Emma Cui, CEO and Managing Partner of LongHash Ventures, said:
“We are very happy to partner with the Axelar Foundation to launch the first global accelerator of the Axelar network. We are especially excited to invest in and accelerate projects that will think about modular ways to use various ecosystems and connect to Axelar to bring out the best in each channel and bring us closer to a multi-channel world. -chains.
Axelar decided to partner with LongHash Ventures because of the latter’s extensive experience in running accelerator programs. Additionally, LongHash Ventures has deep roots and networks in the Asia-Pacific region while being able to provide project teams with access to world-class mentors and investors.
Sergey Gorbunov, co-founder of the Axelar Foundation, said:
“The success of the Axelar grant program has demonstrated the global interest in building chain-independent applications. We’ve seen developers and investors backing this movement to help onboard the next hundreds of millions of users and simplify multi-channel interactions. Axelar’s unparalleled security and functionality has made its ecosystem a funnel for forward-thinking Web3 dApp teams. We look forward to accelerating the progress of these teams with LongHash Ventures as an experienced and well-connected global partner.
LongHash Ventures seeks to support multi-chain projects that connect to the Axelar network and take advantage of its General Message Passing (GMP) feature, which allows developers to call any function on any dApp, on any any channel. LongHash Ventures is also interested in teams that use different chains in a modular way, e.g. storage, off-chain computing, token liquidity, NFT minting, privacy, etc.
Axelar will support projects selected for the program by providing developer and technical support to help them transition to multiple chains and explore the possibilities of modular implementations to get the most out of each chain for their particular use case.
The LongHashX 10 Accelerator Cohort will feature a series of workshops and fireside chats spread across six modules, namely Web3 Product Strategy and Design, Tokenomics, Governance, Technology Mentoring, Community Building and fundraising.
Selected projects will receive $100,000 initial investment from LongHashX as well as support to help them raise funds from other investors. LongHashX Accelerator’s in-house business builders will also host weekly one-on-one problem-solving sessions to help founders solve their problems across the program’s six modules. Projects that are still in the R&D or ideation phase are also encouraged to apply. These projects are eligible to be considered for Axelar’s grant programs, which are aimed at early stages of development.
Applications for the LongHashX Accelerator Cohort 10 are open until November 11, 2022. LongHashX Accelerator will accept 10 projects for the Axelar Cohort.
Axelar provides secure cross-chain communication. This means that dApp users can interact with any asset, any application, on any channel, with a single click. You can think of it as Stripe for Web3. Developers interact with a simple API atop a permissionless network that routes messages and provides network security through proof-of-stake consensus.
Axelar has raised capital from leading investors including Dragonfly Capital, Polychain Capital, Coinbase and Binance. Partners include major proof-of-stake blockchains, such as Avalanche, Cosmos, Ethereum, Polkadot, and others. The Axelar team includes distributed systems/cryptography experts and MIT/Google/Consensys alumni; the co-founders, Sergey Gorbunov and Georgios Vlachos, were founding members of the Algorand team.
LongHash Ventures is a leading Web3 accelerator and investment fund working closely with founders to build their Web3 model and unlock Asia’s vast potential. LongHash Ventures has invested in over 60 projects, including Polkadot, Instadapp, Zapper, Astar, and Balancer. We collaborate with founders to develop the tokenomics, governance and communities of their projects.
As Asia’s first and leading Web3 accelerator, LongHashX Accelerator has partnered with Polkadot, Algorand, Filecoin and others to build over 50 global Web3 projects that have raised over $150M in the past 4 years. We are committed to fulfilling our mission to catalyze the growth of the next generation of the web.