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HomeBitcoin NewsOasis Structure introduces $160M advancement fund

Oasis Structure introduces $160M advancement fund


Oasis Foundation introduces $160M development fund

Designer group Sanctuary Structure has actually launched a $160 million environment fund to bootstrap promising projects developing on top of Oasis Network, a privacy-enabled blockchain with a focus on decentralized financing (DeFi) and the so-called data economy.The fund was developed to draw in new designers to the Sanctuary Network so that they can construct the next generation of decentralized applications that support DeFi, nonfungible tokens, information tokenization and the metaverse, Sanctuary Foundation revealed Wednesday. Startups and existing projects developing on Oasis Network are both qualified to get grants, the Structure confirmed. In addition to Sanctuary Foundation’s contributions

, the ecosystem fund was financed by several leading blockchain endeavor funds, including AME Cloud Ventures, Dragonfly Capital Partners, Draper Dragon Fund, Electric Capital, FBG, Dive Capital, Kenetic Capital, NGC Ventures and Pantera Capital, amongst others. Related: Alexis Ohanian

, Solana Ventures release$100M Web 3.0 growth fund Through its ParaTime scaling architecture, Oasis Network is marketing

itself as a more affordable option to Ethereum, whose expensive gas charges continue to provide concern for users. Despite the high gas fees, Ethereum stays the most active developer community within DeFi by a large margin. Presently, Ethereum represent over$170 billion of the total worth locked throughout all of DeFi. Binance, the second-largest chain, has over $19.3 billion in total worth locked.

Total worth locked throughout all chains. Ethereum in dark blue. Source: DeFiLlama.The designers

behind Oasis have actually shifted focus numerous times given that 2018 when they raised $45 million to construct a “privacy-first cloud computing blockchain.” As Cointelegraph reported, the pivot towards DeFi appears to have materialized throughout the mainnet launch in the 4th quarter of 2020. Nevertheless, the job has maintained a strong focus on scalability and information tokenization, which it states can open several usage cases for blockchain technology.

Released at Wed, 17 Nov 2021 14:00:00 +0000


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