Assembly early contributors LD Capital, Huobi Ventures, UOB Venture Management and others commit $100 million to accelerate growth of the ecosystem

With this contribution, multiple prominent crypto funds throw their support behind the recently launched ecosystem

Assembly, the scalable multi-chain network for smart contracts, announced that its early contributors have committed $100 million to accelerate the growth of its ecosystem. Led by LD Capital and Huobi Ventures, the funding support is a vote of confidence in Assembly’s potential and goal to become one of the largest crypto ecosystems.

Announced just days ago, Assembly presents exciting opportunities for builders to tap into the unrealized potential of a newly emerging ecosystem. With more than 70% of the entire token supply reserved for developer incentives, community-governed DAOs and grant programs, Assembly invites anyone to participate and become a part of the community. Following the mainnet launch, the community will govern this token allocation and open distribution to early adopters and builders.

Beyond its strong technical foundation rooted in interoperability and feeless transactions, Assembly is deeply committed to supporting developers and product teams who build and launch smart contract applications. The launch of Assembly opens a new world of DeFi, NFTs, and Play-to-Earn Crypto games built on a feeless, scalable multi-chain network. With the mainnet launch planned for 2022, builders can already start deploying their smart contracts and launching on the public Beta network.

In anticipation of the official Assembly mainnet launch, the project is accelerating direct financial support for the ecosystem. The project has previously attracted $18 million in a seed round from high-profile crypto funds and ecosystem players such as LD Capital, Signum Capital, Huobi Ventures, UOB Venture Management, GSR, HyperChain Capital and Du Capital, in addition to several private individuals in the crypto ecosystem.

In a move to accelerate the growth of the Assembly ecosystem ahead of the mainnet launch, early contributors have committed upwards of $100 million in funding support for builders and teams eager to capitalize on the opportunities offered by Assembly. Project teams are invited to reach out directly to individual funds or to the Assembly team to apply for funding.

“We are very proud to be one the earliest contributors of Assembly. We have no doubt that Assembly will become the best option for Web3 developers to build their DAPPs and provide frictionless service to billions Web3 adopters given its high degree of flexibility, scalability and interoperability. We are fully committed to working closely with the team to unleash the full potential of Assembly and start a new era.” says Jack Yi Founding Partner of LD Capital.

“Assembly marks yet another milestone for blockchain interoperability upon IOTA infrastructure. Huobi is delighted to back Assembly.”, says Sistine Chen, Venture Partner at Huobi Ventures.

"Back in 2015, the IOTA team already foresaw the many problems plaguing our industry today, such as scalability and transaction cost. IOTA's ledger structure has always been the answer to those problems and that answer is now revealed by Assembly, an advanced smart contract platform that is highly nimble and robust. I've known Dominik and the team for many years, and I'm still impressed by their innovativeness and resilience. We believe that the team will lay a solid foundation for the crypto industry and that Assembly+IOTA will accelerate the arrival of Web 3.0.", says Rae Deng, Partner at Signum Capital.

Crypto billionaire investor Stelian Balta, Founder HyperChain Capital says:

"We’re active in crypto since 2013. Since then we have seen many blockchain technologies emerge.  To bring the next billion users on board, what we always needed in the crypto ecosystem was a feeless, highly scalable network for developers to build highly scalable apps. Assembly does that. The team created the first DAG in 2015(IOTA). They are pioneers in the crypto ecosystem and we are confident in their experience and their vision for the next decade."

About Assembly

Assembly is a decentralized layer-1 smart contract network with a native ASMB token. A key network within the IOTA ecosystem, Assembly supercharges smart contract development in its various forms, including DeFi and NFTs, to create an open and interoperable decentralized economy. Its technology framework and public network is optimized for mainstream adoption, and plans are in place to distribute up to 70% of the entire token supply to the IOTA community’s most dedicated builders and innovators. The Assembly mainnet will launch in 2022 as a permissionless network that will be fully governed by its community.