Terra Labs chose LongHash Ventures because of its track record of advancing and investing in key Web3 technologies
Terra & LongHash Ventures Partnership
LongHash Ventures is pleased to announce a collaboration with Terraform Labs to kick off the LongHashX Accelerator Terra cohort. The collaboration will make the LongHashX Accelerator, which was founded in 2018, available to Terra ecosystem entrepreneurs and companies.
Terra has surpassed Ethereum as the second largest blockchain in terms of Total Value Locked (TVL), with its TVL increasing to $37.5 billion from less than $1 billion a year earlier. Terraform Labs chose LongHash Ventures because of its track record of advancing and investing in major Web3 technologies. This collaboration is a continuation of LongHash Ventures’ accelerator partnership approach, which has already teamed with significant ecosystems like as Polkadot, Filecoin, Algorand, and others.
LongHash Ventures will provide its network of investors and founders to native enterprises as a consequence of this agreement, and any project approved into the program will get up to $500,000 in financing. Notably, the LongHashX Accelerator Terra cohort will have ten projects. These projects will be subjected to a 12-week program beginning in June 2022. These initiatives will get direction and help in six areas as a result of the relationship. Fundraising, community building, tech mentorship, tokenomics, product strategy and design, and governance will be among them.
Project is serious about its future goals, despite the chain’s recent crisis with dwindling Anchor reserves, which were increased by Luna Foundation Guard (LFG) for $450 million, and aims to construct a $10 billion Bitcoin reserve for its stablecoin TerraUSD. And this collaboration would surely be a great help for Terra and LUNA in breaking over the next resistance level of $120 and setting a new all-time high.
Quotes
Do Kwon, Co-Founder and CEO of Terraform Labs (TFL), said: “The LongHashX Accelerator has a consummate track-record as one of the most successful programs for accelerating Web3 startups. The new Terra cohort unlocks a streamlined pathway for builders to pursue bold ideas replete with first-class resources, workshops, and guidance – further accelerating a wave of innovation in the Terra ecosystem.”
Emma Cui, Founding Partner of LongHash Ventures, added: “As we significantly scale up our LongHashX Accelerator program in 2022, we are thrilled to partner with Terra to run our next cohort. We have been very impressed by the protocols and development of the Terra ecosystem, and we are very excited to continue to expand our accelerator partnership model with one of the world’s leading Web3 ecosystems. The collaboration gives us an opportunity to accelerate and invest in the next generation of projects building on Terra.”
