Layer 1 blockchain technology Injective, which was established in 2018, has announced the introduction of a $150 million ecosystem fund to help developers developing on the Cosmos network.

The so-called ecosystem group is financially supported by a large consortium of venture capital firms and Web3. These companies include Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, IDG Capital, Gate Labs, and Flow Traders.

According to Injective, the consortium has amassed the largest number of members of any that have been formed within the larger Cosmos ecosystem.

According to Injective, the developers chosen for the fund will receive help in the form of “bespoke token and stock investments,” in addition to mentoring, technical assistance, business growth, and marketing.

The most attention will be paid to projects that are developing decentralized financial infrastructure (DeFI) and interoperability infrastructure.

Building trading platforms, scaling solutions, and proof-of-stake infrastructure are initiatives that will benefit from the allocation of these funds.”

In terms of stage, the organization is generally interested in early-stage (Series B seed) companies, but is also open to considering follow-on investments on an individual basis.

The amount of financing that is granted to each project will vary according to the stage in which it is and the requirements that must be met to achieve the general objective of ensuring the success of each project.

Injective is a decentralized smart contract platform that was built using the Cosmos SDK, which is a development kit that fosters faster and more cost-effective infrastructure than Ethereal. Injective is also known as Injective Protocol.

According to Chen, compared to other blockchains, Cosmos has more adaptability, customization opportunities, and horizontal scalability.

According to CoinMarketCap, Cosmos is the 20th largest blockchain network due to its market value of over $3.7 billion.

The term “decentralized finance” first appeared in public discourse in the summer of 2020, at the same time that a number of notable projects kicked off a cryptocurrency bull market shortly after Bitcoin’s quadrennial halving.

Although decentralized finance (DeFi) activity has slowed over the course of the past year, the industry as a whole has been largely immune to the issues that have been plaguing centralized finance (CeFi) platforms.

According to Chen’s further explanation, “the decentralized structure of DeFi protocols provides better transparency and real control over assets,” which will always be a fundamental benefit over centralized finance.