Categories: Press Release

LongHash Ventures Partners With Terraform Labs To Accelerate Web3 Development On Terra Blockchain

Singapore, Singapore, 6th April, 2022, Chainwire

LongHash Ventures is excited to announce a partnership with Terraform Labs to launch the LongHashX Accelerator Terra cohort. The partnership will open up the LongHashX Accelerator, first established in 2018, to founders and startups building in the Terra ecosystem.

Terra has become the second biggest blockchain by Total Value Locked (TVL), with its TVL skyrocketing to $37.5 billion from under $1 billion a year ago. Terraform Labs embarked on this partnership because of LongHash Ventures’ strong track record of accelerating and investing in leading Web3 protocols. This partnership is a continuation of LongHash Ventures’ accelerator partnership model, having partnered with notable ecosystems such as Polkadot, Filecoin, Algorand, and others in the past.

In addition, LongHash Ventures brings recognized thought leadership in Web3-native topics, opens access to its network of investors and founders, and provides up to US$500k in funding to each project selected to join the program.

The primary objective of the partnership is for LongHash Ventures to accelerate and invest in the next generation of leading Web3 protocols building on the Terra blockchain. The LongHash Ventures team is confident that this is only the first of many opportunities to collaborate with Terraform Labs.

Emma Cui, Founding Partner of LongHash Ventures, comments:

“As we significantly scale up our LongHashX Accelerator program in 2022, we are thrilled to partner with Terra to run our next cohort. We have been very impressed by the protocols and development of the Terra ecosystem, and we are very excited to continue to expand our accelerator partnership model with one of the world’s leading Web3 ecosystems. The collaboration gives us an opportunity to accelerate and invest in the next generation of projects building on Terra.”

Ten projects will join the LongHashX Accelerator Terra cohort and will go through a 12-week program, starting in June 2022. Projects will receive guidance and support across six areas: product strategy & design, tokenomics, governance, tech mentorship, community building, and fundraising.

The LongHashX Accelerator will also host weekly workshops and fireside chats with industry leaders, as well as host weekly one-on-one problem solving sessions with venture builders and weekly mentor office hours. At the end of the program, there will be a Demo Day where the startups will have the opportunity to pitch to investors.

“The LongHashX Accelerator has a consummate track-record as one of the most successful programs for accelerating Web3 startups,” says Do Kwon, Co-Founder and CEO of Terraform Labs (TFL). “The new Terra cohort unlocks a streamlined pathway for builders to pursue bold ideas replete with first-class resources, workshops, and guidance – further accelerating a wave of innovation in the Terra ecosystem.”

LongHashX is the accelerator program of LongHash Ventures, and is the first and leading Web3 accelerator in Asia. LongHash Ventures is one of the few venture capital firms to run its own accelerator program and offer teams full support every step along the way.

Teams and projects interested in applying for the program can do so directly here.

About Terraform Labs

The Terra protocol is the leading decentralized and open-source public blockchain protocol for algorithmic stablecoins like UST built off of the Cosmos SDK and secured by a system of verification called Tendermint Consensus. Using a combination of open market arbitrage incentives and decentralized Oracle voting, the Terra protocol creates stablecoins that consistently track the price of any fiat currency. Users can spend, save, trade, or exchange Terra stablecoins instantly, all on the Terra blockchain. LUNA, the native Terra cryptocurrency that absorbs the demand fluctuations of UST, provides its holders with staking rewards and governance power.

The Terra ecosystem is a quickly expanding network of decentralized applications, creating a stable demand for Terra’s stablecoins and increasing the price of LUNA.

About LongHash Ventures

LongHash Ventures is a Web3 investment fund and accelerator collaborating closely with our founders to build their Web3 model and tap into the vast potential of Asia. We launched our fund in January 2021 and invested in projects including Balancer, Acala, Instadapp, and Zapper. We collaborated with their founders to develop their tokenomics, governance, and communities.

With our LongHashX Accelerator, we have partnered with Polkadot, Algorand, and Filecoin to build more than 50 global Web3 projects which have raised more than $100m in the past 4 years. Through such investments and active collaboration, we are committed to realizing our mission of catalyzing growth for the next generation of the Web.