The blockchain affiliate of Korean fintech Dunamu (an Upbit operator), Lambda256 has announced the launch of a consortium mainnet called The Balance and its Tech Launchpad, a platform for customized web3 solutions.
The launch took place on the Metaverse of The Balance World, which was provided by Metacong.
The Balance has collaborated with Metacong (Metaverse), SooHo.io(DEX), CandyPlus(NFT) and Mesh Korea (Live Tech).
The Balance is a multi-layer consortium mainnet that supports multi-chain bridges for token and NFT and will provide applicable Web 3.0 infrastructures for projects in various industry verticals.
The mainnet is already integrated with Ethereum and the company is planning to further integrate with Solana, Polygon and Binance Smart Chain by the end of 2022.
The Balance has 8 initial validators – KT, Maeil Economy, Kakao Enterprise, Mesh Korea, Devsisters, Megazone Cloud, Hanhwa EBC, and DSC Investment, all of which will play an important role in making operational decisions and expanding the ecosystem.
Furthermore, the Tech Launchpad aims to prepare and empower Web 3.0 projects for a successful launch. Few select projects will be guided through the incubation and acceleration stages.
The projects will also be featured on the website and Discord community to extend its social reach.
“We will provide full support to ventures willing to build Web 3.0 businesses where users can be rewarded with their own data and activities using The Balance mainnet and Tech Launchpad,” said Jay Jae-hyun Park, the CEO of Lambda256.
“Lambda256 will contribute to the growth of an economy where everyone can experience and share the rewards.”
Dunamu was recently in hot water over allegations that it made over 130 billion Korean won, over $100 million from the LUNA Classic last year.
Dunamu purchased 20 million LUNC tokens ‘for investment purposes’ for USD 0.13 per coin in 2018.
The amount of the investment has also aroused questions as Dunamu & Partners spent two-thirds of the firm’s initial capital on the LUNC purchase.
