The WEB3 and Blockchain ABCDE investment fund stops fresh investments, but the $ 400 million fund remains involved in supporting existing projects.
In April 19 x postCo -founder of ABCDE and founder of Haobi Exchange du Jun said that the fund worth $ 400 million will no longer invest in fresh projects or will not want capital to the second phase of the fund.
However, Jun said that the fund would continue to “inform about the support and out of the investment of existing projects” to ensure the company’s involvement in entrepreneurs and liquidity suppliers (LPS).
“My personal work is also focused on financial investments on the basic market for strategic based on investments and deep incubation, focusing more on industrial and long-term synergy creation of values,” Jun added.
The advertisement appears almost three months after the last ABCDE investment in the solution of Ethereum Layer-2 (L2), soon (Solana Confident Network), which collected $ 22 million thanks to the impermeable sales of tokens on the occasion of Mainnet’s premiere, said Cointelegraph on January 22.
Soon, the mainnet claims that it exceeds Solana in terms of speed and performance, ensuring the average time of 50 milliseconds blocks compared to 400 milliseconds of Solana.
ABCDE is a fund worth $ 400 million, with 28% of its investments in Bitcoin (BTC) scaling technology, 16% in Finance Infrastvative Ethereum Liquid Staking Infrastatic (LSDFI), and an additional 12% invested in L2S, rebuilding and wise contract platforms, show the data of Cryptoran.
ABCDE has invested capital worth over $ 40 million in over 30 projects in the last three years, with an internal return rate (IRR) “still at a global leading level”, despite the current market environment, Jun, Jun he said.
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The fresh brand of the Vernal incubator announced
ABCDE suspension in the field of collecting funds was announced a month after the co -founder of the fund launched a fresh Incubator brand, Vernal.
The fresh incubator is to announce its shareholders and incubation rules for the first batch of projects in May, along with the first investments.
Jun said that the decision to stop ABCDE’s efforts was not made due to financial restrictions or lack of funds, but due to basic concern for the current trajectory of the development of the cryptocurrency industry.
Related: Crypto, Actions introduce “a new phase of trade war” when US-China tensions are created.
“To be honest, I am not more and more able to agree with the current ecological atmosphere of the primary market,” Jun said on April 19 x postAddition:
“Many projects are very short -sighted and just wonder how to get as soon as possible on the stock exchange, and what remains is often a mess.”
“It is more disturbing that some basic funds not only do not have reflection on it, but also raise their” designs listed “and short-term market value results, but never mention the creation of the values of the projects themselves,” he added.
The founder of Cardano, Charles Hoskinson, called on fourth generation cryptocurrencies to adopt more cooperation tokenomics in order to compete with the main centralized technological companies entering the cryptographic industry.
“The problem is at the moment that the way we did things in the cryptocurrency space is tokenomics, and the market structure is internally opposed.
“In this way you can’t build a global ecosystem and you can’t win this way,” he added. “Because that’s the point. They are much larger.”
https://www.youtube.com/watch?v=kqzhvt77xkw
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