Axelar, which happens to be a major entity related to infrastructure projects offering safe and secure cross-chain communication, has officially announced that it will set aside an amount of $60 million in the form of funding. However, this has been done through the Axelar Ecosystem.

Startup Financing Program that they carry out to give the necessary impetus and encouragement to innovative and captivating projects on Web3. As in the current scenario, all the builders and developers creating and introducing the various products through Axelar must take into account the factors of mass acquisition, in which users do not need to switch between different blockchains.

All builders and developers using the Axelar platform can successfully join forces around the world with proper utilization of open source code and decentralized networks. They are also in a position where they can circumvent seemingly endless business development cycles by coding each other.

In addition, Axelar developers also require a decentralized structure base to create. They don’t have the mindset of having their networks controlled or the possibility of them being hacked through multisigs. They come with the ability to create applications that promise blockchain without permission.

In this scenario, it’s just for the ben.benefit of these builders that the financing program has been provided for. It has several top-tier crypto-based investment firms collaborating and contributing to this purpose. Some names include Blockchange, Dragonfly Capital, Cygni Capital, Divergence Ventures, and the like.

Axelar’s funding program was created with the sole vision of promoting capable and like-minded builders to continue their efforts in a more financially stable manner and get the best out of Web3. Also, it is said that they want to build a pipeline for builders and developers who want to further build the QWeb3 ecosystem so that they can put up the stiff competition to all their rivals in the centralized web.