The non-profit Algorand Foundation has launched a fund to develop the DeFi ecosystem on the Algorand network. About this говорится in a press release.
The Viridis DeFi Fund is denominated in the native Algorand token — ALGO. It has a size of 150 million ALGO (about $315 million at current rates).
The fund will back the development of a range of DeFi applications, including DEX and NFT-platforms. It will begin operations with two grants of $5 million each to support the creation of critical DeFi infrastructure.
In 2020, the Algorand Foundation announced a multi-year ALGO grant program for developers of applications, tools and blockchain infrastructure.
That same year, the organization unveiled an accelerator for European startups. The program’s aim is to develop the Algorand ecosystem.
Earlier in June 2021, Arrington XRP Capital, a digital asset management firm, launched a $100 million fund to support initiatives built on the Algorand blockchain.
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