DuckChain Announces Strategic Partnerships and Secures $5M in Funding

DuckChain, a layer-2 solution designed to enhance the scalability and functionality of the TON blockchain, has announced several strategic developments, including a significant $5 million financing round and key partnerships with industry leaders. The $5 million investment round attracted major investors such as dao5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove Ventures, Skyland Ventures, GeekCartel, Gate.io, and Presto. This financial backing is a crucial milestone for DuckChain as it aims to drive innovation and scalability within the TON ecosystem.

The funding will enable DuckChain to improve its compatibility with the Ethereum Virtual Machine (EVM), which is expected to attract users from various blockchain communities and infuse new liquidity into the ecosystem. Additionally, this development will enhance the scalability of the TON blockchain, contributing to its growth and making it more accessible to a wider range of decentralized applications (dApps) and users. As DuckChain seeks to improve interoperability between TON, Ethereum, and Bitcoin ecosystems, it is positioning itself as a bridge that will promote better scalability and offer a more diverse range of applications.

In addition to the funding, DuckChain has formed strategic partnerships with high-profile blockchain industry players such as Arbitrum, OKX Wallet, OnePieceLab, and others. These collaborations aim to strengthen DuckChain’s presence in the blockchain market and create new opportunities for developers. As part of these initiatives, DuckChain has launched the Yellow Duck Mission Hackathon, a high-profile event designed to foster innovation in decentralized applications. The hackathon, which will run from December 15, 2024, to January 15, 2025, offers a total prize pool of $1 million in DuckChain tokens.

The hackathon aims to encourage the development of innovative solutions across various domains, including DeFi protocols, AI-powered applications, and meme-centric platforms. Participants will have the opportunity to compete for prizes, with the top-performing projects receiving $500,000, creative projects earning $200,000, and the most community-engaged initiatives receiving $50,000. This hackathon also provides participants with the chance to gain international exposure, attract investors, and present their projects to the broader Web3 community.

The event will feature several tracks, including meme dApps, DeFi applications, Telegram-powered dApps, AI solutions, and infrastructure tools. Developers can begin submitting their projects on December 15, 2024, through the DuckChain Hackathon Portal. This initiative is expected to draw attention from the global developer community and accelerate the growth of decentralized applications within the DuckChain ecosystem.

DuckChain is positioned to be a key player in the evolution of the TON blockchain, leveraging its EVM compatibility to address scalability concerns and enhance the overall user experience. By bringing more liquidity into the ecosystem and connecting TON with Ethereum and Bitcoin, DuckChain is working to improve the functionality of the TON blockchain and expand its reach within the broader blockchain landscape. With the backing of top investors and the launch of initiatives like the Yellow Duck Mission Hackathon, DuckChain is poised for continued growth and innovation in the decentralized space.