Galxe Unveils Ethereum Upgrade & $50M Fund for Gravity Blockchain Ecosystem

On December 10, BlockBeats reported that according to Cointelegraph, the Web3 identity authentication and reward platform, Galxe, announced a new Ethereum Virtual Machine (EVM) upgrade for its Gravity blockchain and established a $50 million fund to support the development of its network ecosystem.

Galxe co-founder Charles Wayn stated that the $50 million fund aims to encourage development activity on the recently launched Gravity network, for which Galxe has also provided an additional $5 million in developer funding. The Ecosystem Fund is backed by venture capital firms such as Dragonfly Capital, HashKey Capital, DAO5, and Lattice.

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