Web3 and Blockchain dedicated to the ABCDE investment fund has stopped new investments, but $ 400 million funds remain focused on supporting existing projects.
On an April 19 x Post.
However, Jun said the fund will continue “post-investment support and release of existing projects” to ensure the company’s commitment to entrepreneurs and liquidity (LPS).
“My personal focus focus will gradually change from financial investment to the main market to the strategic-led by investment and deep incubation, focusing more on industrial synergy and long-term value of creation,” Jun added.
The announcement will come nearly three months after Abcde’s last investment in an Ethereum Layer-2 (L2) solution, Soon (Solana Optimistic Network), which Raised $ 22 million by An countless sale token to mark its Mainnet launch, Cointelegraph reported on January 22.
Soon Mainnet claims the Outperform Solana at speed and efficiency, delivering an average block times of 50 millisecond compared to Solana’s 400 milliseconds.
ABCDE is a $ 400 million fund, with 28% of its investments in Bitcoin (Btc) scaling technology, 16% in Ethereum Liquid staking derivatives Finance (LSDFI) infrastructure, and an additional 12% invested in L2S, restoration and intelligent contract platform, Cryptorank Data displays.
ABCDE has invested more than $ 40 million worth of capital over 30 projects over the past three years, with an internal return rate (IRR) “still at the global level of the leading,” despite the current market environment, June Says.
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New Incubator Brand Vernal announced
ABCDE’s suspension of fundraising efforts was announced one month after the fund co-founder launched a brand new incubator, Vernal.
The new incubator is set to announce shareholders and egg incubation rules for the first group of projects in May, including its initial investments.
Jun said the decision to stop ABCDE funding efforts was not made due to financial barriers or lack of funds but due to a major concern for the current development of the crypto industry.
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“Obviously speaking, I don’t even admit to the current ecology environment of the main market,” Jun said on April 19 x PostAdding:
“Many projects are quite short -lived and just think about how to enroll in the exchange as soon as possible, and what’s left is often a mess.”
“More concerned is that some major funds not only have no reflection about it, but also hypeting their ‘listed projects’ and short-term market value performance, but never mention the cost of creating projects themselves,” he added.
Founder of cardano charles Hoskinson urged the fourth-generation cryptocurrency Projects to embrace more cooperative tokenomics to compete with major centralized tech companies entering the crypto industry.
“The problem today is that the way we have done things in the cryptocurrency space, is the tokenomics and the market structure is pointless on April 9.
“You can’t build a global ecosystem this way, and you can’t win this way,” he added. “Because the thing is here. The incumbents are bigger.”
https://www.youtube.com/watch?v=KQZhvt77xkw
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