Canadian crypto exchange Biconomy and LT Capital to launch $100M fund
“Biconomy is one of the biggest Canadian cryptocurrency exchanges already online. Founded in 2019, the company has offices in Canada, the United Kingdom, Russia, Brazil, South Korea, and Japan.
It is a leading exchange that provides professional and secure trading experiences to 500k+ registered users and 200k+ active community members around the world through its products and services designed specifically for cryptocurrencies”
Biconomy is very actively developing its ecosystem. Most recently, it released a launchpad for GameFi, NFT, and DeFi projects. This is a full-fledged launchpad with a wide range of services for projects and their successful entry into the cryptocurrency market.
With the new launchpad, Biconomy and LT Capital jointly established the “Biconomy Ecosystem Foundation” with a total amount of US $100 million.
This capital mainly provides funding and joint ecosystem development support for global GameFi, Defi, and NFT development teams.
The mission of the Biсonomy exchange is to create a bridge between the real economy and the crypto economy and make cryptocurrencies more accessible to people.
The GameFi sector is a real breakthrough this year, which also connects the gaming industry with cryptocurrencies and enables players around the world to make money just by playing games.
Biconomy sees a great prospect and intends to develop the Play2Earn sector especially purposefully. Gaming projects have several features. Firstly, they are complete newcomers to the crypto market, so the expertise and help of the exchange when entering it is very important.
Also, very often game developers are looking for funding and sponsors to develop their games.
As a result, the Biconomy exchange solves all the problems of GameFi projects – from financing, preparing a project for the crypto market, to successfully entering public trading and partnership and cooperation after listing.
The funds from Ecosystem Foundation will be used to extend the ecosystem of the Biсonomy exchange – the development of partner and launchpad projects and investments in it. The exchange already has 6 offices around the world, more than 20 language chats, and intends to develop even more in further regions with developed crypto-economics.
And since Biсonomy also has a GameFi launchpad, and also carries out listings of promising projects, the Biconomy Ecosystems Foundation will invest in the most promising of them, thereby strengthening its position in the cryptocurrency market and among cryptocurrency exchanges.
Another direction of financing is investing in IDO projects on the Solana-based DEX Сaballo exchange, in the creation of which Biсonomy acted as a technical partner.
This is a one-of-a-kind DEX on Solana that supports the Deflationary Token Model. The first token that was listed on the Caballo exchange is the native token of the Biconomy Exchange – BIT. Caballo and Biconomy will jointly conduct an IDO on the Caballo platform, providing investments for promising projects.
Biconomy CEO Dmitriy Sheludko commented:
“This is a very large and significant event in the life of our exchange. By forming the Biconomy Ecosystem Foundation, we will be able to develop at an even higher pace and develop many product areas-both related to direct exchange services and indirectly affecting the exchange and its development, but necessarily strengthening its ecosystem.
We invite the best projects to apply for our launchpad and grow together with the Biсonomy exchange. For the passionate teams that joined the Biconomy ecosystem, they were empowered not only by funds and technology. Just look at the BIT community and you will know what a great thing we are doing with people in the community! We look forward to the excellent teams that will join this historic change.”
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