OKEx’s Block Dream Fund Invests In Equilibrium
We are pleased to announce Block Dream Fund, the newly formed investment arm of crypto exchange OKEx, invested in Equilibrium.
The initial capital of Block Dream Fund is $100 million. The Block Dream Fund’s investment thesis is around supporting innovative early-stage blockchain projects that elevate crypto use cases. Since then, it has used that money to add momentum to a number of major blockchain companies like Plasma Network and Solana. Equilibrium is the latest such company to get financial backing from the Block Dream Fund.
While the fresh influx of money is good news to any startup, we can’t overstate the strategic value that we gain by forming this relationship with OKEx’s venture arm. OKEx is one of the most popular cryptocurrency exchanges on the planet, so their resources and connections will prove invaluable for effectively navigating the turbulent crypto landscape. Block Dream Fund has furthermore cemented itself as a crypto investor of consequence in a short time, already securing venture backing to several major crypto companies.
Resources provided by the Block Dream Fund to Equilibrium will go toward funding operations. Block Dream Fund’s Founder Dora Yue said, “Investing in Equilibrium was an easy decision because decentralized money market services hold endless potential for reshaping the crypto ecosystem at large. Equilibrium’s work will elevate interoperability to be a more central conversation within crypto, and we are happy to be part of making it happen.”
“It’s certainly gratifying to see new and important players in the ecosystem take interest in what we are building,” said Equilibrium CEO Alex Melikhov. “Being backed by the Block Dream Fund not only represents a major vote of confidence in our work, but simultaneously grants access to resources that let us continue further with our plans.”
The next big thing on Equilibrium’s calendar is a two-phase parachain lease offering, which will see us raise funds from our community in order to secure a slot on the Polkadot parachain.