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Algorand Foundation Launches $300 Million Usd Fund To Support Defi Innovation

Sep 10, 2021•almost 4 years ago

Amount Raised

$300 Million

Description

The Algorand Foundation, an organization dedicated to fulfilling the global promise of blockchain technology, by leveraging the Algorand protocol and open source software, today announced the Viridis DeFi Program, a 150 million Algo (worth approximately $300 million USD today) fund to support DeFi innovation on the Algorand network. The fund will fuel the growth of decentralized exchanges, money markets, options markets, synthetic asset applications, and NFT platforms, all running on the best blockchain network for the future of finance.

Company Information

Company

The Algorand Foundation

About

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.

Funding Insights

Based on industry data
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