Core DAO Launches $5 Million ‘Innovation Fund’ to Support Africa-Based Web3 Developers

Introduction

Core DAO, the foundation supporting Core Chain protocol, recently announced the launch of a $5 million fund to support blockchain builders and projects in Africa. The fund aims to provide resources and networks to support African Web3 builders, as much of Core DAO's community is based in Africa.

More Than Just a Regular Fund

The fund, known as the Core African Innovation Fund, goes beyond providing monetary support. It aims to nurture the next generation of builders and create a sustainable, interconnected blockchain future within the continent. Qualifying projects and individuals can access the fund through grants, builder programs, technical resources, and venture capital investments.

Driving Growth and Innovation in Africa

The Core African Innovation Fund is a combination of grants and venture capital investments designed to help developers improve their products. Core DAO's approach ensures the promotion of long-term success and plays a pivotal role in driving innovation and growth within the African Web3 landscape. The foundation is committed to supporting the best projects in the African Web3 space.

Appointment of Oluwashina Peter

In an effort to strengthen its strategy for Africa, Core DAO has appointed Oluwashina Peter as its first contributor from the continent. This appointment further demonstrates the foundation's commitment to supporting and empowering African Web3 builders.

Conclusion

The launch of the Core African Innovation Fund by Core DAO is a significant step in supporting Africa-based Web3 developers. With a focus on providing resources, networks, and funding, the fund aims to drive growth, innovation, and long-term success within the African Web3 landscape. As the foundation continues to expand its presence in Africa, the future looks promising for blockchain builders and projects on the continent.

Frequently Asked Questions

How much should precious metals make up your portfolio?

This question can only be answered if we first know what precious metals are. Precious Metals are elements that have a very high relative value to other commodities. This makes them very valuable in terms of trading and investment. The most traded precious metal is gold.

However, many other types of precious metals exist, including silver and platinum. The price for gold is subject to fluctuations, but stays relatively stable in times of economic turmoil. It is also unaffected significantly by inflation and Deflation.

In general, prices for precious metals tend increase with the overall marketplace. However, they may not always move in synchrony with each other. The price of gold tends to rise when the economy is not doing well, but the prices of the other precious metals tends downwards. Investors expect lower interest rate, making bonds less appealing investments.

However, when an economy is strong, the reverse effect occurs. Investors choose safe assets such Treasury Bonds over precious metals. These precious metals are rare and become more costly.

Therefore, to maximize profits from investing in precious metals, you must diversify across multiple precious metals. Furthermore, because the price of precious Metals fluctuates, it is best not to focus on just one type of precious Metals.

Is gold a good choice for an investment IRA?

Any person looking to save money is well-served by gold. It is also an excellent way to diversify you portfolio. But gold is not all that it seems.

It has been used throughout history as currency and it is still a very popular method of payment. It is often called “the most ancient currency in the universe.”

But gold, unlike paper currency, which is created by governments, is mined out from the ground. Because it is rare and difficult to make, it is extremely valuable.

The supply and demand for gold determine the price of gold. People tend to spend more when the economy is healthy, which means that fewer people are able to mine gold. Gold's value rises as a result.

On the flip side, when the economy slows down, people hoard cash instead of spending it. This leads to more gold being produced which decreases its value.

This is why gold investment makes sense for both individuals and businesses. If you make an investment in gold, you can reap the economic benefits whenever the economy is growing.

Your investments will also generate interest, which can help you increase your wealth. You won't lose your money if gold prices drop.

What are the pros and disadvantages of a gold IRA

An Individual Retirement account (IRA) is a better option than regular savings accounts in that interest earned is exempted from tax. This makes an IRA great for people who want to save money but don't want to pay tax on the interest they earn. This type of investment has its downsides.

To give an example, if your IRA is withdrawn too often, you can lose all your accumulated funds. The IRS may prevent you from taking out your IRA funds until you reach 59 1/2. If you do withdraw funds, you'll need to pay a penalty.

Another disadvantage is that you must pay fees to manage your IRA. Most banks charge 0.5% to 2.0% per annum. Other providers charge monthly management fees ranging from $10 to $50.

You can purchase insurance if you want to keep your money out of a bank. Insurance companies will usually require that you have at least $500,000. It is possible that you will be required to purchase insurance that covers losses of up to $500,000.

If you are considering a Gold IRA, you need to first decide how much of it you would like to use. Some providers limit how many ounces you can keep. Others allow you the freedom to choose your own weight.

You will also have to decide whether to purchase futures or physical gold. Physical gold is more expensive than gold futures contracts. Futures contracts provide flexibility for purchasing gold. They enable you to establish a contract with an expiration date.

You also need to decide the type and level of insurance coverage you want. The standard policy does NOT include theft protection and loss due to fire or flood. The policy does not cover natural disasters. You might consider purchasing additional coverage if your area is at high risk.

Apart from insurance, you should consider the costs of storing your precious metals. Insurance doesn't cover storage costs. For safekeeping, banks typically charge $25-40 per month.

Before you can open a gold IRA you need to contact a qualified Custodian. A custodian is responsible for keeping track of your investments. They also ensure that you adhere to federal regulations. Custodians can't sell assets. Instead, they must keep your assets for as long you request.

After you've determined which type of IRA is best for you, fill out the paperwork indicating your goals. Information about your investments such as stocks and bonds, mutual fund, or real property should be included in your plan. It is also important to specify how much money you will invest each month.

After completing the forms, send them along with a check or a small deposit to your chosen provider. The company will then review your application and mail you a letter of confirmation.

If you are thinking of opening a gold IRA for retirement, a financial professional is a great idea. Financial planners are experts at investing and can help you determine which type of IRA is best for you. You can also reduce your insurance costs by working with them to find lower-cost alternatives.

Should You Open a Precious Metal IRA?

It is essential to be aware of the fact that precious metals do not have insurance coverage before opening an IRA. There is no way to recover money that you have invested in precious metals. All your investments can be lost due to theft, fire or flood.

It is best to invest in physical gold coins and silver coins to avoid this type loss. These items are timeless and have a lifetime value. If you were to offer them for sale today, they would likely fetch you more than you paid when you bought them.

Consider a reputable business that offers low rates and good products when opening an IRA. You should also consider using a third party custodian to protect your assets and give you access at any time.

Do not open an account unless you're ready to retire. Don't forget the future!

Can I keep a Gold ETF in a Roth IRA

This option may not be available in a 401(k), but you should look into other options such as an Individual Retirement account (IRA).

A traditional IRA allows for contributions from both employer and employee. Another way to invest in publicly traded companies is through an Employee Stock Ownership Plan.

An ESOP offers tax benefits because employees can share in the company stock and any profits that it generates. The tax rate on money that is invested in an ESOP is lower than if it was held in the employees' hands.

A Individual Retirement Annuity is also possible. With an IRA, you make regular payments to yourself throughout your lifetime and receive income during retirement. Contributions to IRAs will not be taxed

Statistics

  • If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
  • Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
  • (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
  • The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
  • This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)

External Links

law.cornell.edu

forbes.com

cftc.gov
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