Decentralized social-investing marketplace Zignaly has introduced the ZIGChain layer-1 blockchain on Cosmos along with unveiling a $100 million ecosystem development fund.

The fund’s primary objective is to enhance the infrastructure for generating wealth in a seamless manner for users, as disclosed by the team during Token2049 in Dubai.

Zignaly functions akin to a crypto fund manager, enabling users to replicate trades executed by professionals. Notably, the company recently obtained a crypto license in South Africa for providing discretionary financial services, a privilege equivalent to those granted to traditional finance fund managers.

Andrei Grachev, Managing Partner at DWF Labs, emphasized the significance of ZIGChain in empowering developers to focus on their core expertise of building, while wealth managers play a crucial role as power users bridging the gap between the protocol and its user base. This collaboration between developers, wealth managers, and users on a decentralized platform is unprecedented in scale.

Zignaly’s overarching goal is to facilitate universal access to decentralized finance (DeFi) for all users, irrespective of their familiarity with digital assets or investment strategies, through a straightforward “invest” button.

Torben Jorgenson, a partner at UDHC, echoed the sentiment by highlighting the wealth-management layer within ZIGChain, which aims to deliver a user-friendly experience by establishing a wealth management service atop any DeFi protocol, regardless of its complexity. The vision presented by Zignaly has garnered support from various entities, with UDHC joining the ecosystem fund without hesitation.

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Edited by Sheldon Reback.