Morph, the blockchain for consumer apps, created a centralized exchange alliance to help future blockchain projects and developers.
The Morph team announced in a press release on September 10 that top CEXs from the industry will come together to form the Morph Centralized Exchange Coalition.
An announcement states that the program aims to increase exposure for developers and projects that benefit from Bitget, MEXC, HTX, and Poloniex on major exchanges.
Projects will benefit from the exchanges’ greater market visibility and liquidity. Additionally, the Morph Centralized Exchange Coalition will provide links between builders and possible venture capital investment sources.
The Integration Committee of the collaboration will review and suggest initiatives for exchange listings. In the interim, the initiative will lessen the requirement that projects devote resources to phases like investigation and due diligence.
The CEX collaboration will give developers the tools they need to launch and scale for widespread adoption rather than only giving grants or other funding. Cecilia Hsueh, chief executive officer and co-founder of Morph:
By providing a clear pathway for projects to access major trading platforms and potential funding opportunities from top-tier venture capital firms, we are able to drive meaningful impact and long-term success for blockchain projects.”
Benefits to Ecosystem Players
Projects, exchanges, and Morph may gain from the effort in several ways, including greater market activity, total value locking, and decentralization.
Ahead of its mainnet debut, which will include a consumer layer intended to spur adoption and close the gap between blockchain and practical use cases, Morph is also well-positioned to gain additional traction.
Morph and Foresight Ventures launched a $20 million ecosystem fund in August. According to Morph, the fund will focus on consumer projects that are in their early stages and are blockchain-based.
