DuckChain Announces Strategic Partnerships and Secures $5M in Funding

On December 20, 2024By Littum

DuckChain teams up with major crypto players to power the next wave of decentralized applications and announces the Yellow Duck Mission hackathon.

Leading investors including dao5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove Ventures, Skyland Ventures, GeekCartel, Gate.io and Presto participated in the $5 million funding round for the TON ecosystem layer-2 project DuckChain.

As DuckChain works to improve the scalability and functionality of the TON blockchain, this funding represents an important turning point for the project. This funding will help the project improve its EVM compatibility and DuckChain will be able to attract new users from other blockchain communities, bring new liquidity and promote a diverse ecosystem for DuckChain and ultimately for the TON network as a whole .

DuckChain has successfully raised $5 million, backed by @daofive, @OffchainLabs, @KeneticCapital, @DWFVentures, @OakGroveVC, @skylandvc, @geek_cartel, @gate_io, @Presto_Labsand others.

Angel investors from leading industry projects such as @CamelotDEX and @Quantstamp also… pic.twitter.com/G6588Eeuem

— DuckChain (@Duck_Chain) 20 December 2024

DuckChain has also announced partnership agreements with Arbitrum, OKX Wallet, OnePieceLab and other well-known industry companies to strengthen its position in the blockchain market. Together, they are launching the Yellow Duck Mission hackathon to bring together developers, creators and innovators to create the next generation of decentralized applications within the DuckChain ecosystem.

With a total prize pool of $1 million in DuckChain Tokens, the hackathon, which will take place from December 15, 2024 to January 15, 2025, aims to stimulate innovative solutions in areas including DeFi protocols, AI-powered apps and meme-focused platforms .

Top performing projects will receive $500,000, creative projects will receive $200,000 and the most socially engaged initiative will receive $50,000. Participants will also have a chance to raise awareness internationally, attract investors and present their new technology to the Web3 community.

Meme dApps, DeFi apps, Telegram-powered dApps, AI solutions and infrastructure tools are among the tracks available to participants. On December 15, 2024 submissions begin and participants can register at DuckChain Hackathon Portal.

DuckChain is an EVM compatible layer-2 solution designed for the TON blockchain. It was created with assistance from TonScale Labs and Arbitrum to offer scalability and liquidity. By connecting TON with the Ethereum Virtual Machine (EVM) and Bitcoin ecosystems, DuckChain aims to attract a wide range of users, solve scalability issues and improve interoperability.

With this financial support and strategic partnerships, DuckChain is well positioned to contribute significantly to the development of the TON ecosystem by promoting decentralized solutions that are efficient, scalable and inclusive.