TAIPEI, July 10, 2023 /PRNewswire/ -- LBank Labs, the venture capital arm of the global exchange LBank, has today announced the establishment of a $10 Million MEME Special Fund. The move is intended to encourage high-quality early-stage innovative MEME projects, foster industry growth, and give back to the wider community.

LBank Labs will seek innovative and quality-driven MEME projects globally, emphasizing LBank's influence and commitment to the worldwide MEME project landscape. The creation of this fund is expected to further stimulate industry innovation and growth.

Funding allocation will be based on the quality and influence of the projects, and the fund will be directly donated to eligible project teams. A leaderboard will be established to periodically announce the list of recipients, highlighting the accomplishments and contributions of the projects. It is anticipated that fund distribution will be completed within the next year, with the first list of donations to be released in early July.

The application process is straightforward and clear. Details on how to apply and further information will be published on the LBank Labs official website in early July. LBank Labs extends an invitation to all globally outstanding MEME innovative projects to apply for this fund and join hands in driving industry growth.

LBank Labs remains committed to promoting the development and innovation of the blockchain industry. LBank Labs believes that the establishment and operation of the MEME Special Fund will further stimulate MEME innovation on a global scale, bringing more vitality and development opportunities to the industry.

About LBank Labs:

LBank Labs is the venture capital arm of the global exchange LBank, dedicated to fostering technological innovation and application development in the blockchain industry. Currently, LBank Labs manages $100 million in assets to support startups and Web3 funds. As of the second quarter of 2023, LBank Labs has invested in 12 Web3 funds and plans to continue expanding its investments in startups and funds to strengthen the cooperation and network effects among its investment portfolio. LBank Labs firmly believes that through the power of technology, a more open, transparent, and fair world can be built.