LBank Labs, the venture capital arm of global exchange LBank, recently announced the establishment of a US$10 million MEME special fund aimed at encouraging high-quality early-stage innovative MEME projects. The fund will allocate funds based on project quality and impact to provide support to eligible project teams.

The funds are expected to be distributed within next year, and the first batch of donation lists will be announced in early July. It is not difficult to see the market’s optimism towards the blockchain industry from this move, which I believe will bring more innovation to the development of the encryption industry.