Home » Filecoin gets $10 million fund from Huobi

Filecoin gets $10 million fund from Huobi

by Natalie Christie
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Huobi Group is continually focusing its efforts on the development and support of Decentralized platforms and applications. After launching the DeFi incubator for the decentralized finance application projects in August this year, it now brings the incubation Center for Filecoin.

Filecoin Incubation Program launched by Huobi group to boost the Filecoin ecosystem creating better avenues for investment, incubation, and development of the community. 

As per an official press release, Huobi informed the crypt community that it has collaborated with Protocol Labs to bring the Filecoin-Huobi Incubation center by seeding 10 M USD funding to bring a program for the Filecoin community focusing on the development and research.

Incubation Center To Boost Filecoin Community

As highlighted in the press release, the Incubation Center would use the funds to develop the Filecoin community, fostering collaboration with the various Filecoin accelerators and providing various courses that use Hudoba’s expertise in the exchange solutions. Huobi would also provide funding to the various potential projects in the Filecoin ecosystem backed by the technical support and assistance with the Protocol Labs. Finally, both Huobi and Protocol Labs would encourage the community members to interact and collaborate by organizing annual events like summits and conferences.

There would be more engagement with the help of meetups to bring the global Filecoin community together, promoting cross-country communications between the Filecoin developers, users, miners, traders, and existing token holders.

Protocol Labs would offer the technical expertise for the projects that associate with the program. As per the Founder of Filecoin and Protocol Labs, Juan Benet, the Internet is in the middle of the revolution, and Filecoin is playing an important role as the Internet moves back to decentralization backed by its decentralized storage concept.

Filecoin ecosystem has seen enormous engagement and expansion post its mainnet launch, with miners onboarding a massive 1 Exabyte of storage on the network and about 100 companies building on it. Thus, tapping the immense potential of Filecoin, Huobi wants to promote further development of the Filecoin ecosystem, thereby supporting the Filecoin community and developers to be a key differentiator in the innovation of decentralized solutions like Filecoin.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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