{"id":39622,"date":"2021-03-26T10:18:09","date_gmt":"2021-03-26T08:18:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=39622"},"modified":"2025-08-30T10:35:55","modified_gmt":"2025-08-30T07:35:55","slug":"okex-and-mxc-to-commit-40-million-to-defi-development-on-the-solana-blockchain","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/okex-and-mxc-to-commit-40-million-to-defi-development-on-the-solana-blockchain\/","title":{"rendered":"OKEx and MXC to commit $40 million to DeFi development on the Solana blockchain"},"content":{"rendered":"<p>Cryptocurrency exchanges OKEx and MXC have decided to allocate $40 million as strategic investments in the Solana blockchain ecosystem.<\/p>\n<figure class=\\\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<blockquote class=\\\"twitter-tweet\\\" data-width=\\\"500\\\" data-dnt=\\\"true\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">1\/  Today $40m an additional investment will flow into the Solana ecosystem to support the next great generation of blockchain projects and ecosystem companies building on Solana. <\/p>\n<p>This is only possible because of the astonishing progress of builders, creators, and users of SOL. <a href=\\\"https:\/\/t.co\/geUSwEeyCO\\\">https:\/\/t.co\/geUSwEeyCO<\/a><\/p>\n<p>\u2014 Solana (@solana) <a href=\\\"https:\/\/twitter.com\/solana\/status\/1375105908846559235?ref_src=twsrc%5Etfw\\\">March 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\n<\/div>\n<\/figure>\n<p>The funds will go to projects and developers through the Solana Foundation&#8217;s grant program. In addition to financing, it also provides technical support and help with recruiting personnel. OKEx and MXC will receive tokens in exchange for the investments.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cThe development of the Solana ecosystem will continue with expanded support for non-fungible tokens and product-oriented projects,\u201d<\/em> said Catherine Dan, vice president of MXC, in an interview with CoinDesk.<\/p>\n<\/blockquote>\n<p>OKEx, via the Block Dream Fund, will commit $100 million to the development of networks such as Solana, layer-2 solutions, and such components of the DeFi ecosystem as oracles and derivatives platforms.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cWe expect to help projects grow and to connect them with trading platforms,\u201d<\/em> said representatives of the OKEx Foundation.<\/p>\n<\/blockquote>\n<p>Solana is a project developing a scalable blockchain protocol for creating decentralized applications and smart contracts. It is positioned as an alternative to Ethereum, with which in October 2020 developers created<a href=\"https:\/\/u1f987.com\/en\/news\/solana-unveils-cross-chain-bridge-linking-ethereum-and-solana-networks\"> cross-chain bridge<\/a>.<\/p>\n<p>In August, the cryptocurrency derivatives exchange FTX launched the decentralized exchange Serum on the Solana blockchain. The platform will be compatible with Ethereum through the use of the second-layer solution Optimistic Rollup.<\/p>\n<p>Earlier during tests Solana demonstrated a throughput of <a href=\\\"https:\/\/github.com\/solana-labs\/solana\/releases\/tag\/v1.0.0\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">60 000 TPS<\/a>. By developers&#8217; estimates, the theoretical network capacity could reach <a href=\\\"https:\/\/docs.solana.com\/\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">710 000 TPS<\/a>.<\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"zQrg84V5dl\\\"><p>How to accelerate the blockchain to 710,000 transactions per second: A look at the Proof of History algorithm<\/p><\/blockquote>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u00abHow to accelerate the blockchain to 710,000 transactions per second: A look at the Proof of History algorithm\u00bb \u2014 ForkLog\\\" src=\\\"https:\/\/u1f987.com\/exclusive\/razognat-blokchejn-do-710-000-tranzaktsij-v-sekundu-obzor-algoritma-proof-of-history\/embed#?secret=em7YfEuIkQ#?secret=zQrg84V5dl\\\" data-secret=\\\"zQrg84V5dl\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>Stablecoins<a href=\"https:\/\/u1f987.com\/en\/news\/tether-launches-usdt-on-solana-blockchain\"> USDT<\/a> and<a href=\"https:\/\/u1f987.com\/en\/news\/usdc-stablecoin-launched-on-the-solana-blockchain\"> USDC<\/a> have been issued on the Solana blockchain.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchanges OKEx and MXC have decided to allocate $40 million as strategic investments in the Solana blockchain ecosystem.<\/p>\n","protected":false},"author":1,"featured_media":39623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1291,1159],"class_list":["post-39622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-okx","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=39622"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39622\/revisions"}],"predecessor-version":[{"id":39624,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39622\/revisions\/39624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/39623"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=39622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=39622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=39622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}