The GRN Association, a Swiss-based NPO (non-profit organization), announced today that it has secured an investment totaling $50M for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies.
On GRNGrid, an environmentally friendly, scalable, and stable Layer 1 blockchain, with novel DeFi features, users have the choice to only use nodes running exclusively on renewable energy for their transactions.
GRNGrid’s renewable energy partners, who specialize in data center and hosting facilities, have shown keen interest in running Grid’s nodes as validators. With their help, the company can kickstart the availability, speed, and sustainability of GRNGrid in Q2 2023. GRNGrid’s novel features as GRNPay and Exnode will also encourage developers and consumers to connect on GRNGrid.
Introducing Proof-of-Stake V2 (PoS2), GRNGrid is the first blockchain with a consensus method specifically designed to tackle whales and achieve fairer distribution. This consensus method will deliver increased security, enhanced decentralization, and better financial sustainability.
GRN ($G), the native token of GRNGRid will govern the blockchain by staking to validate and earn validation rewards. Consumers are able to provide liquidity to the inbuilt DEX called Exnode.
The GRN Association protects the sustainable vision of GRNGrid, as well as providing funding to environmental projects. The association also handles the ReCharge program, which enables GRNGrid validators to repurpose their hardware and cut back on electronic waste.
The new funding from GEM Digital Limited, a digital asset investment firm, will be invested in further connectivity with top crypto Exchanges, adding new global professional partnerships, and building out its blockchain technology and infrastructure.
Frederik Vyncke: “The GRN Association is confident that with the support of GEM investment and the community, it can bring GRN Grid to fruition and be setting the tone for a renewable blockchain with innovative features and create a sustainable development”