The XDC Network is a hybrid blockchain with a delegated proof-of-stake (XDPoS) consensus mechanism making interoperability, hybrid relay bridges, and spontaneous block finality possible for blockchain users through the usage of XDPoS. To expedite the growth and development, the founders, Atul Khekade & Ritesh Kakkad of the XDC network used a portion of their tokens allocated to leverage a $50 million commitment from the global alternative investment firm LDA Capital Limited.
Despite the present macroeconomic environment, the number of (Smart Contract based) projects built on XDC has already multiplied relentlessly and exponentially, with DEXs, Metaverses, NFT marketplaces, oracles, decentralized email providers and cloud storage, payment dApps, legal document repositories, and tokenized real-world assets all instituting roots in the network recent times.
Atul Khekade, Co-founder XinFin (XDC) Network stated:
“Though there have been many institutional funds eager to participate in the XDC Network over the years, we’ve always looked for genuine strategic partners, not just funders, who can actively and strategically advance the ecosystem, while bringing utility to the network, and making XDC the preferred Layer 1 for institutions the world over–in LDA, we’ve found such a partner.”
LDA Capital is a multi-national alternative investment firm with experience in worldwide deals. The team of LDA has spent their entire professional lives pursuing global and cross-border opportunities, having completed over 250 transactions in growth-stage companies across 43 countries, with total transaction values exceeding US$11 billion.
Anthony Romano, LDA Capital Ltd. stated:
“LDA Capital is pleased with the developments made in the XDC Network by the XDC ecosystem. In addition to its funding, LDA will offer strategic counsel and support to help XDC Blockchain Network assume its position as a market leader.”
The collaboration of the XDC network with the LDA Capital is expected to promote the growth rate of the overall Ecosystem.