Wave Financial has launched a $100M fund to support the Cardano decentralized finance (DeFi) ecosystem. While the Helium founders have raised $200 million in funding, money market platform Burrow has been launched on altcoin project NEAR.
Wave Financial launches a $100 million fund
Canadian-based fintech company that provides financial services to SMEs Wave Financial is a $100 million fund as part of its efforts to support the growth of the Cardano decentralized finance ecosystem announced its launch.
According to the official announcement today, millions of dollars are spent on new DeFi platforms in the Cardano ecosystem. A fund called the ADA Yield Fund was launched to provide financial support worth worth of money. Receiving significant support from both Cardano’s IOHK and blockchain company EMURGO, the company said it had initially committed $100 million to the project.
Helium founders raise $200 million
Helium provides a unique use case for crypto tokens as a decentralized wireless network backed by token incentives. As we mentioned in the news of Kriptokoin.com, the altcoin project has increased the size of the platform over the past year. Now, the founders and key contributors behind the network have raised substantial new funds to continue building, albeit under a new name.
Today, Helium Inc. announced a $200 million Series D funding round at $1 billion pre-valuation, bringing the firm’s updated valuation to $1.2 billion. The round was co-led by Tiger Global and Andreessen Horowitz’s a16z crypto fund.
Money market platform Burrow launched on altcoin project NEAR
Altcoin project NEAR Protocol is a $5M investment Wednesday backed by Dragonfly Capital, ParaFi Capital, Jump Crypto, QCP Capital and others It has a new money market platform with the launch of Burrow. Burrow is an unattended liquidity pool platform that functions as a decentralized money market, allowing users to source and borrow assets for trading.
Other investors in the Burrow round include Lemniscap, Mentha Partners, Warburg Serres Investments, DeFi Capital, D1 Ventures, GFS Ventures, SevenX Ventures and Metaweb Ventures. The platform will use the funds to relaunch initial trading liquidity.
Given the use of the NEAR Blockchain, Burrow says it will have “near-zero transaction costs” and fast transaction closing times, solving two of the complaints many users have when transacting on other Blockchains.
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