As mentioned above, EMURGO aims to leverage GSR's deep liquidity base to support a number of Cardano initiatives. In addition, the platform will identify Cardano investment ventures that GSR and its partners can support.
Cardano supports its developer ecosystem through its Project Catalyst campaign. The recently concluded Fund 10 supported about 192 projects out of about 400,000 votes cast by the community, and GSR's involvement could strengthen this effort.
In addition to funding, the support will extend to developers to increase interoperability between #Cardano projects. There is currently a subtle battle for supremacy in the developer ecosystem, with Cardano trying to displace #CryptoWatchMay2024 .
The inclusion of GSR is a perfect fit for Cardano. Despite the developer successes, Cardano's decentralized finance (DeFi) ecosystem still boasts a significantly low Total Value Locked (TVL). Compared to Ethereum's TVL of $55 billion, Cardano has only $277.82 million.
Do venture capitalists hate Cardano?
One of the controversies brewing in the Cardano ecosystem is the attitude of venture capitalists towards the #blockchain . There are claims that Cardano is disliked by these large financial institutions because they are not inclined to fund new spin-offs on the blockchain.
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