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The Comrade Cooperative and Æternity Ventures agreed to a strategic partnership in the field of developing innovative blockchain projects.

Æternity Ventures aims to support ambitious projects on the blockchain which use the Æternity platform. The Æternity blockchain platform allows for a large number of blockchain transactions carried out simultaneously along with its security, intuitive mobile applications and easy to set up “smart contracts”.

Comrade Cooperative

Founded only six months ago the Comrade Cooperative is quickly becoming a talent powerhouse for real-life applications of decentralised technologies. We at Comrade, aim to be the first showcase of a Decentralized Autonomous Organization governed on the blockchain. Later this year, the Comrade Cooperative will provide an install-ready framework which will allow entrepreneurs and developers to establish and manage their decentralised autonomous organisation on the blockchain.

Decentralized Autonomous Organizations (DAOs)

This framework, called Wetonomy, will give teams, companies, and organisations the ability to collaborate, share profits, finance ideas and award contributions, all governed by smart contracts on the blockchain.

Comrade’s decentralised structure and visionary projects are already attracting some of Bulgaria’s top talents in the fields of Blockchain and Artificial Intelligence. The newly formed team is also working on their second project (codename ScyNet) – a cutting-edge autonomous decentralized network for training AI agents. These agents can be utilized in a variety of fields, and their first application for crypto trading is already showing some encouraging results.

The Steadily Growing Blockchain Ecosystem in Bulgaria

The partnership between the Comrade Cooperative and Æternity Ventures is yet another strategic step in positioning Bulgaria as a gravity centre for building and developing innovative blockchain projects, not just on the Balkans but also within the EU as a whole.Soon upcoming entrepreneurs and developers will be able to start their projects using the Wetonomy system. When they prove that their team and idea have the requirements to become a successful business, they can receive support from Æternity Ventures to grow further.

The partnership is also structured in an innovative way of funding early-stage businesses. This type of funding is something we at Comrade are going to implement in the Wetonomy system as well. We call it High-Risk Automated Debt, allowing founders to get their idea off the ground without necessarily selling equity in their company. We believe that this type of financing will enable more entrepreneurs to give their new idea a chance.

Todor Kolev, Chairman of Comrade Cooperative:

We are excited to have as a partner Æternity Ventures, representing one of the new major blockchain projects with a strong presence in Bulgaria. Together we will work towards our shared goal to conceptualize, build and invest in the organizations of the future.”

Nikola Stojanow, CEO of Æternity Ventures:

“Comrade is an important initiative which is not only innovative but also driving the ecosystem. The teams around Todor Kolev have great technical minds to guide them and are focusing on important issues that need to be addressed, like finding alternative ways for financing early-stage ideas.”

Among the first steps in this new partnership – last weekend Todor Kolev joined the jury for the Demo Day of the Æternity Starfleet Incubator for blockchain startups. We look forward to seeing how these exciting new partnerships aid in the expansion of a more transparent and decentralized future world.