{"id":49226,"date":"2021-09-10T15:36:32","date_gmt":"2021-09-10T12:36:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49226"},"modified":"2025-09-02T11:34:23","modified_gmt":"2025-09-02T08:34:23","slug":"algorand-foundation-launches-fund-to-back-defi-innovations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/algorand-foundation-launches-fund-to-back-defi-innovations\/","title":{"rendered":"Algorand Foundation launches fund to back DeFi innovations"},"content":{"rendered":"<p>The non-profit Algorand Foundation has launched a fund to develop the DeFi ecosystem on the Algorand network. About this<a href=\"https:\/\/algorand.foundation\/news\/viridis\"> \u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f<\/a> in a press release.<\/p>\n<p>The Viridis DeFi Fund is denominated in the native Algorand token \u2014 ALGO. It has a size of 150 million ALGO (about $315 million at current rates).<\/p>\n<p>The fund will back the development of a range of DeFi applications, including <span data-descr=\"decentralized exchanges\" class=\"old_tooltip\">DEX<\/span> and <span data-descr=\"non-fungible tokens\" class=\"old_tooltip\">NFT<\/span>-platforms. It will begin operations with two grants of $5 million each to support the creation of critical DeFi infrastructure.<\/p>\n<p>In 2020, the Algorand Foundation announced a multi-year ALGO grant program for developers of applications, tools and blockchain infrastructure.<\/p>\n<p>That same year, the organization unveiled<a href=\"https:\/\/forklog.com\/en\/news\/algorand-foundation-launches-accelerator-for-european-startups\"> an accelerator for European startups<\/a>. The program&#8217;s aim is to develop the Algorand ecosystem.<\/p>\n<p>Earlier in June 2021, Arrington XRP Capital, a digital asset management firm, launched<a href=\"https:\/\/forklog.com\/en\/news\/arrington-xrp-capital-launches-a-100-million-investment-fund-for-algorand-ecosystem-projects\"> a $100 million fund<\/a> to support initiatives built on the Algorand blockchain.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The non-profit Algorand Foundation has launched a fund to develop the DeFi ecosystem on the Algorand network. The announcement was made in a press release.<\/p>\n","protected":false},"author":1,"featured_media":49227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1329,1156],"class_list":["post-49226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-algorand-algo","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=49226"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49226\/revisions"}],"predecessor-version":[{"id":49228,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49226\/revisions\/49228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/49227"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=49226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=49226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=49226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}