Bluehill Foundation launches $30 million fund focusing on the IOST DApp ecosystem

Today, Bluehill, a blockchain incubator, and accelerator announced the establishment of its special fund “Pioneer” with a total value of $30 million. Bluehill’s Pioneer fund will help to finance DApp developers and incubate promising DApp projects which focus on building for the IOST’s DApp ecosystem.

IOST is building a high TPS blockchain infrastructure to meet the security and scalability needs of a decentralized economy. Led by a team of proven founders and backed by world-class investors, our mission is to be the underlying architecture for the future of online services.

Missions of the Pioneer Special Fund:

• Discover and support DApp developers worldwide
• Offer strong support on the technological development of DApp developers and operations of their teams
• Incubate and accelerate high-quality DApp projects.

Bluehill will support to accelerate development of DApp projects through technical support and resources offered by IOST. These DApps will help diversify and grow IOST’s ecosystem following on from Mainnet launch.

The Growth of Bluehill Foundation

The Bluehill Foundation was established in June 2018 and has experienced rapid growth ever since. Currently, the team comprises 50 team members worldwide, distributed in offices in China, South Korea, USA, and Singapore.

As an important step for IOST, Bluehill’s fund is principally used for financing IOST’s partners, incubation of DApps and blockchain technology innovations. Since launch, Bluehill has successfully incubated 7 DApp projects in areas of network security, payment processing, content distribution and more. Projects include: Covalent, Lambda, Contentbox, Lambda, ContentBox, Plair, Rate3, Certik and Origo.

Bluehill’s Investment Strategy for the IOST DApp Ecosystem

In October 2018, Bluehill partnered with DApp project: Endless Game (endless.game), which became the first project investment for the Pioneer Special Fund. The total raised for the project was $7.5 million, of which $3.5 million was contributed by Bluehill. Endless Game will later be developed on IOST’s mainnet, and will also participate in IOST’s mainnet node election.

With the upcoming launch of IOST’s mainnet, developing for the IOST ecosystem will be seen as the project’s top priority. As IOST’s blockchain is opened to the public, DApps will play an important role in user acquisition and implementing functions into the blockchain. Over the coming years, Bluehill will focus on supporting other DApp projects by utilizing the pioneer Fund as well as IOST’s resources and communities to give DApp projects a market advantage.