Funds of $45 million for the development of the EOS blockchain
Funds of $45 million for the development of the EOS blockchain

Funds of $45 million for the development of the EOS blockchain

By Alfredo de Candia - 9 Nov 2021

Chevron down has transferred as much as $45 million to Helios, an investment fund managed by the famous Brock Pierce. Thanks to these funds, it will carry out a long-term investment plan for the development of the blockchain and the EOS ecosystem.

The funds for the development of EOS

It all started with a press release from explaining how collaboration with different players, developers, communities and companies, is necessary in order to evolve the whole ecosystem, in this case, EOS and the underlying software that is EOSIO. The aim is to develop new things and incubate new businesses using this very technology.

Brock Pierce commented via Twitter:

In fact, for a system, in this case a blockchain, to be able to attract investment and even developers, it inevitably needs funding to support progress and development. Funds of this level and other initiatives provide the lifeblood for the sector.

The $45 million, as Pierce himself mentioned, will be in vesting for seven years and therefore cannot be sold but only used to invest within the EOS ecosystem. These funds will be used primarily to:

  • Enhance tools for the community and developers;
  • Support the creation of infrastructure;
  • Organize events regarding blockchain education in particular EOS;
  • Development cases and more.

These are key areas and themes for advancing an ecosystem as it needs to be made simple for the insiders, who are the developers themselves, by giving them all the tools to operate efficiently. In fact, in the EOS ecosystem, there are already guides and certificates available that teach developers how to work with this blockchain. These are 100% valid certificates that are free of charge until March 2022. Anyone can participate and study this blockchain with convenient videos and targeted tutorials.


The EOS Network Foundation

This is not the only novelty of EOS. The EOS Network Foundation (ENF) was also established, which, as the name suggests, is indeed a foundation and has all the credentials to lead EOS and its development. 

It already has several million EOS under management. Half a million EOS has been provided to the first season of Pomelo, the crowdfunding to develop dApps on this blockchain that has already raised 20 different projects, from a protocol dedicated to privacy like ZEOS to an exchange dedicated to ETFs like CETF, the first decentralized ETF on EOS that is already operational.

The price of EOS

In the last few hours, the price of EOS has risen above $5.10, showing that everything is moving on the price side as well, in conjunction with the upcoming Bullish hybrid exchange. 

Bullish is one of the few exchanges to offer tools related to decentralized finance (DeFi) but in a completely legal context. In fact, it is not only an exchange with orders in BTC, ETH and EOS, but it will also allow users to participate and create liquidity pools and obtain attractive APYs completely autonomously and independently within the platform. This will indirectly increase the price of the asset as transactions will be recorded on the EOS blockchain.

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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