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GRNGrid secures USD 50 million investment commitment from GeM Digital
The GRN Association announced today that it has secured a total investment of $50 million for the GRNGrid project from GeM Digital Ltd., a venture capital focused on digital currencies.
About GRNGrid
GRNGrid Is an eco-friendly, scalable and stable Layer 1 blockchain, with novel DeFi features. On GRNGrid, users have the option of using only nodes running on renewable energy for their transactions.
GRNGrid’s renewable energy partners, which specialize in data center and hosting facilities, have shown keen interest in running nodes of the grid as validators. With their help, the company can kickstart the availability, speed and stability of GRNGrid in the second quarter of 2023. GRNGrid’s new features like GRNPay and Xnode will also encourage developers and consumers to join GRNGrid.
GRNGrid is also offering Proof-of-Stake V2 (PoS2). GRNGrid is the first blockchain with a consensus methodology specifically designed to deal with whales and achieve better distribution. This consensus approach will provide increased security, better decentralization and better financial stability.
GRN ($G) is the base token of GRNGrid. Verification will control the “G” blockchain to validate and earn rewards. Consumers are able to provide liquidity to an inbuilt DEX called Xnode.
The GRN Association is a Swiss-based NPO (non-profit organization), – and protects the sustainable vision of GRNGrid, as well as providing funding for environmental projects. The association also handles the recharge program, which enables GRNGrid validators to reuse their hardware and cut down on electronic waste.
GEM’s new funding will be invested in further connectivity with top crypto exchanges, adding new global professional partnerships, and building out its blockchain technology and infrastructure.
Friedrich Vinke:
“The GRN Association is confident that with GeM investments and community support, it can make GRN Grid a success and set the tone for renewable blockchains with innovative features and create a sustainable development”
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about the gem
Gem Digital Limited is a digital asset investment firm. Based in the Bahamas, the firm actively sources, structures and invests in promising utility tokens listed on more than 30 centralized and decentralized exchanges globally.
GRNGrid secures USD 50 million investment commitment from GeM Digital
