Seattle, Washington–(Newsfile Corp. – August 11, 2022) – KaJ Labs announced its intention to raise $500 million for Lithosphere’s Growth Fund. The initiative comes less than two months after KaJ Labs received a $400M commitment from GEM Digital (GEM) for Lithosphere’s development. The funds will be used to grow the Lithosphere ecosystem and launch new initiatives. Some of the funds will also be used to purchase bitcoin and bitcoin mining equipment.
The Lithosphere network aims to eliminate bottlenecks hindering mainstream blockchain tech adoption by offering a robust infrastructure for distributed value transfer and interoperability across multiple blockchain networks.
To accelerate Lithosphere’s mainstream adoption and bring disruption to financial infrastructures, a $200 million investment program has been established to grow distributed computing, gaming, metaverse, virtual reality, AI, and financial services.
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A $300 million Liquidity Incentive Program has been launched to provide liquidity rewards to specific protocols based on innovation, TVL and active users. The program provides flexibility and support for professional traders and institutions to provide more liquidity in DeFi protocols that will run on Lithosphere. The majority of proceeds from the Liquidity Incentive fund will be utilized to buy bitcoin and bitcoin mining machines. Inquiries about investment or OTC LITHO can be directed to firstname.lastname@example.org. Due to regulatory uncertainty, OTC LITHO is not available to citizens or residents of the United States of America at this time.
KaJ Labs has moved ahead with multiple projects. Lithosphere has launched a $150 million developer grant and incubation program. Of that amount, $100 million will fund and incubate Lithosphere’s infrastructure projects and dApps. The remaining $50 million is being used to conduct regional and global mainstream development programs and bug bounties.
Lithosphere represents the future of distributed value transfer and multiple nations and banking systems are eager to add the network as a tool for economic growth. The funds raised by KaJ Labs and its ongoing initiatives provide even greater value to Lithosphere, enabling more individuals and entities to participate in the network.
About KaJ Labs
KaJ Labs is a decentralized research organization focusing on AI and blockchain technology. We’re driven to create innovative products that work for the greater good around the globe.
Lithosphere is the next-generation network for cross-chain applications powered by AI and Deep Learning.
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105
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