Oasis Foundation launches $160 million development fund

The Oasis Foundation, a nonprofit organization, has launched a $160 million fund to finance developers of decentralized applications on the Oasis Network, including DeFi, NFT and the metaverses.

1/Announcing the ? $160M OASIS ECOSYSTEM FUND ? dedicated to supporting & scaling projects built on Oasis!

$160 Million USD to build the next frontier of DeFi, NFT, Metaverse, Data Tokenization, Data DAO, Data Governance & Privacy Apps on Oasis!?https://t.co/xRLurcEKAg

— Oasis Foundation (@OasisProtocol) November 17, 2021

The fund will also invest in companies that tokenize and govern data, develop privacy-preserving applications and create projects in the data DAO space. It will support both new and existing startups.

The structure привлекла capital from AME Cloud Ventures, Dragonfly Capital Partners, Draper Dragon Fund, Electric Capital, FBG, Jump Capital, Kenetic Capital, NGC Ventures, Pantera Capital and others.

The team says that the ParaTime scalability architecture used in the Oasis Network is “perfectly suited for DeFi.” According to the project’s developers, their network offers high throughput, lower gas costs than Ethereum, built-in privacy features and protection from MEV.

The Oasis Network platform also provides compatibility with the Ethereum Virtual Machine (EVM) and Solidity, enabling easy creation of dapps and migration of existing Ethereum applications to the new blockchain.

In October 2021, the ecosystem development fund was founded by the NEAR Protocol team. Its size was $800 million.

In the same month, cryptocurrency exchange Binance объявила о запуске структуры на $1 млрд для развития и поддержки экосистемы Binance Smart Chain (BSC).

Earlier in November, the Avalanche Foundation анонсировала фонд на более чем $200 млн для ускорения разработки, роста и поддержки инноваций в экосистеме публичного блокчейна Avalanche.

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