Avalanche Foundation raises $230M to support DeFi ecosystem
The smart contracts platform has made substantial progress within the DeFi space since its launch last year. The Avalanche Foundation has announced a significant $230M investment from a venture capital group spearheaded by Polychain and Three Arrows Capital for the purpose of supporting the growth of the DeFi ecosystem and their ever-expanding list of applications that utilize the blockchain.Since launching in September 2020, Avalanche has cultivated a burgeoning influence on the DeFi landscape, with its smart contracts platform now providing the infrastructure for over 270 industry....
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Avalanche Foundation, the organization behind the Avalanche chain, has announced the launch of Blizzard, a fund that will entice development and innovation on the Avalanche ecosystem. The Fund, which has $200 million available for its task, is composed of contributions coming from Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, among other participants.
Blizzard Fund Comes to Avalanche Devs
The Avalanche Foundation has announced the launch of a new fund that will help developers to keep launching innovative products on top of the Avalanche blockchain. The....
PRESS RELEASE. BENQI, an algorithmic liquidity market protocol, and the Avalanche Foundation are collaborating on a joint liquidity mining program to celebrate the launch of the BENQI protocol on the 19th of August and the next phase of growth within Avalanche’s DeFi ecosystem. $3MM of AVAX will be allocated as liquidity incentives for BENQI users, with additional incentive programs coming soon. The AVAX will be offered as rewards to users who are lending and borrowing AVAX, ETH, LINK, wBTC, USDT, and DAI on the protocol with BENQI. AVAX is the native token of Avalanche. It’s....
AVAX is one of the year’s top crypto performers, with the likes of Three Arrows Capital and Polychain Capital supporting the PoS chain. Avalanche ecosystem accelerator Colony has raised $18.5 million in seed investments to bootstrap the next generation of Avalanche blockchain projects, underscoring heightened demand for the proof-of-stake ecosystem. The investment round was led by the Avalanche Foundation, an organization overseeing ecosystem development grants, with additional participation from Shima Capital, HashKey, GBV Capital and Bixin Ventures. Members of the Avalanche community....
The raise comes as total value locked on the Avalanche blockchain remains steady at around $14.6 billion. According to a report published by Bloomberg on Thursday, Ava Labs is en route to raising a new round of funding for $350 million at a valuation of $5.25 billion. Details of the agreement have not been made public. Ava Labs is the lead developer of the Avalanche (AVAX) blockchain. The total value locked, or TVL, on AVAX currently sits at $14.6 billion, according to data from DeFi Llama. Decentralized finance, or DeFi, borrowing and lending protocol Aave accounts for 33.72% of the....
The $200 million fund aims to foster growth and innovation on the Avalanche network. The Avalanche Foundation has unveiled “Blizzard” — a fund offering more than $200 million in incentives to developers who build on the Avalanche (AVAX) network.The fund will provide liquidity to those early-stage projects that innovate decentralized finance (DeFi) applications, nonfungible tokens (NFTs), and other products on Avalanche. Avalanche is a Proof-of-Stake network that launched in September 2020. The network boasts Ethereum Virtual Machine (EVM)-compatibility, allowing developers to port....