Geneva, Switzerland — Dec. 19, 2022 — The Tron DAO Ecosystem Fund intends to define decentralization. Tron DAO announced that part of that effort will be Tron DAO Ventures (TDV), which is focused on discovering elite startups, investing profoundly, optimizing strategically, then exiting at an empowering moment.
Tron has been actively seeking new development teams and startups interested in creating decentralized applications on the Tron blockchain. Existing projects built on other layer-1 blockchains with thriving communities and established minimum viable products (MVPs) are also desired. Tron DAO Ventures was launched to support both — the best of the best building in the Tron ecosystem and the outstanding projects able and willing to bridge synergistically into the Tron ecosystem. Tron DAO leaders believe in a decentralized, multichain future with seamless interoperability. For projects built on other layer-1 blockchains, the chance to coordinate strategically for interoperable functionality is ideal and will spur industry innovation toward mass adoption and recognition.
The purpose of TDV is to invest in promising blockchain-based startups, guide and collaborate with them, optimize their efforts, and then exit at the right time that empowers the project team for their next growth stage. Tron demonstrated its commitment to decentralization in December 2021, when it transitioned to become one of the largest community-governed decentralized autonomous organizations (DAOs). Now, it hopes to empower entrepreneurial endeavors with like-minded dedication. It aims to invest across a wide range of categories, all of which exist to develop blockchain-based utility via decentralized finance, GameFi, nonfungible tokens (NFTs), DAOs and Web3 experiences.
All applicants submitting to TDV will be reviewed on a case-by-case basis. While the deployment of funds currently averages between $100,000 and $250,000 per project, the TDV team is open to negotiating more significant funding deals to provide greater opportunities for top-tier teams and projects. The expectation for applicants is to have a long-term vision for Tron-based development with a strategic outlook toward benefiting other Tron projects as well as Tron users. The incorporation of Tron-based tokens, the inclusion of other Tron ecosystem decentralized applications (DApps) and tools, the integration of USDD, or the involvement of BitTorrent Chain, would be a major plus.
An example of a “perfect fit” for TDV would be projects:
- Built on any layer-1 (including but not limited to Tron)
- With an MVP, testnet or beta ready
- Past pre-seed funding already with $500,000 raises
- Already with committed investors
- Believing they would have strategic synergy with the Tron ecosystem.
45 projects have already applied for TDV funding and are under review. If interested, please use this link. Details needed to apply include:
- Project name
- Contact information
- Team member information
- Fundraising stage
- Social media profiles
- Category of project
- Investor information
- Plans to build on Tron
- Token or equity plans
- Current valuation
- Pitch deck.
If projects are looking to apply to the TDV that are at the pre-launch phase or at too early of a stage for larger grants, there are alternative funding opportunities through other programs in the broader Ecosystem Fund, such as:
- 2023 Tron Grand Hackathon — aka HackaTRON, equipping, coaching and rewarding early-stage projects shaping the future of the Tron ecosystem.
- Grant Programs — providing continuous support to communities, developers and influencers of the Tron ecosystem.
- Tron Academy Program — partnering with top-tier university blockchain organizations to mentor and equip the leading next-generation of innovators.
A “perfect fit” for other opportunities available from the Tron DAO Ecosystem Fund might be described as one of these examples:
- A group of college students eager to develop a community with a blockchain club
- An environmentally focused nonprofit imagining how blockchain tech could advance the cause they care about
- A team of young developers compelled by the mission of decentralization having a little more than an idea coupled with a tireless work ethic
- A weary crew of courageous entrepreneurs with a growing community and an enduring hope to finish what they started
- An influencer who has rallied a congregation of Tron fanatics who are just as passionate as we are about multichain interoperability and the decentralized future ahead.
Tron DAO is determined to discover, invest in and encourage select blockchain projects in alignment with its vision to decentralize the internet. As one of the premier layer-1 blockchains, Tron is ideal for future innovation. Case in point, Tron DAO Ventures joined Binance’s relief fund effort by committing $50 million to its Industry Recovery Initiative. Everyone can transparently verify progress in that effort at this public wallet address on Tronscan.
For more information, listen to the most recent episode of the Around The Block Podcast, where Tron DAO leaders examined the purpose of Tron DAO Ventures and further explained the process of application and approval.
About TRON DAO
Tron DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and DApps.
Founded in September 2017 by Justin Sun, the Tron network has continued to deliver impressive achievements since mainnet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The Tron network has gained incredible traction in recent years. As of November 2022, it has over 129 million total user accounts on the blockchain, more than 4.4 billion total transactions and over $9.7 billion in total value locked, as reported on Tronscan. In addition, Tron hosts the largest circulating supply of Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The Tron network completed full decentralization in December 2021 and is now a community-governed DAO. In May 2022, the overcollateralized decentralized stablecoin USDD was launched on the Tron blockchain, backed by the first-ever crypto reserve for the blockchain industry, Tron DAO Reserve, marking TRON’s official entry into decentralized stablecoins. Most recently in October 2022, Tron was designated as the national blockchain for the Commonwealth of Dominica, which is the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (DMC), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing Tron-based tokens — Tron (TRX), BitTorrent-New (BTT), nonfungible tokens (NFTs), Just (JST), USDD (USDD), USDT and TrueUSD (TUSD) — have been granted statutory status as an authorized digital currency and medium of exchange in the country.