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DuckChain joins forces with major crypto players to drive the next wave of decentralized applications and announces the 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 the $5 million financing round for the TON ecosystem layer-2 project DuckChain.
As DuckChain works to improve the TON blockchain’s scalability and functionality, this funding represents an important turning point for the project. This funding will help the project improve its EVM compatibility, and DuckChain will be able to attract new users from other blockchain communities, bring new liquidity, and foster a diverse ecosystem for DuckChain and eventually for the TON network as a whole.
DuckChain has successfully raised $5 million, backed by @daofive, @OffchainLabs, @KeneticCapital, @DWFVentures, @OakGroveVC, @skylandvc, @geek_cartel, @gate_io, @Presto_Labs, and others.
— DuckChain (@Duck_Chain) December 20, 2024
Angel investors from leading industry projects such as @CamelotDEX and @Quantstamp also… pic.twitter.com/G6588Eeuem
DuckChain has also announced partner 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 bring developers, creators, and innovators to create the next generation of decentralized applications within the DuckChain ecosystem.
With a total prize pool of $1 million in DuckChain Tokens, the hackathon, which takes place from December 15, 2024, to January 15, 2025, aims to stimulate innovative solutions in fields including DeFi protocols, AI-powered apps, and meme-focused platforms.
Top-performing projects will receive $500,000, creative projects will receive $200,000, and the most community-engaged initiative will receive $50,000. Participants will also get a chance to raise awareness internationally, draw in investors, and present their new technology to the Web3 community.
Meme dApps, DeFi apps, Telegram-powered dApps, AI solutions, and infrastructure tools are among the tracks available to participants. On December 15, 2024, submissions will begin, and participants can register on the DuckChain Hackathon Portal.
DuckChain is a layer-2 solution compatible with EVM designed for the TON blockchain. It was created with assistance from TonScale Labs and Arbitrum to offer scalability and liquidity. By connecting TON with the Ethereum Virtual Machine (EVM) and Bitcoin ecosystems, DuckChain aims to draw in a wide range of users, resolving scalability concerns and improving interoperability.
With this financial support and strategic partnerships, DuckChain is well-positioned to contribute significantly to the development of the TON ecosystem by promoting decentralized solutions that are effective, scalable, and inclusive.