The Race for the Best DeFi Experience: EOS Network Ventures Invests $2.4 Million in EOS EVM Chain
EOS Network Ventures (ENV) has made a substantial investment in decentralized finance (DeFi) to enhance the EOS EVM chain. ENV has awarded $2.4 million to NoahArk Tech Group, an existing DeFi developer on the EOS EVM.
EOS EVM Offers Superior Network Fees and Throughput
The EOS EVM stands out among its competitors, including L1 and L2 EVM chains, due to its network fees and throughput. However, attracting users to bridge funds from their current EVM chain requires more than just infrastructure. This is where EOS Network Ventures steps in, confident that it has both the strategy and funding to facilitate this migration.
NoahArk Tech Group to Enhance EOS EVM Chain
NoahArk Tech Group is thrilled with the investment and aims to benefit DeFi users by improving the EOS EVM. Defibox.io and Noahark.io, the platforms that will receive ENV’s investment, are already operational on EOS and offer a comprehensive range of DeFi fundamentals.
Interoperable Liquidity Aggregation Protocol for EOS Ecosystem
NoahArk Tech Group plans to use the funding to expand and enhance both platforms, focusing on the development of an interoperable liquidity aggregation protocol. This protocol aims to improve transaction convenience and flexibility and expand the supported range of assets on EOS and EOS EVM. Liquidity aggregation is crucial for decentralized finance, as it allows for better pricing and lower slippage.
EOS Network Ventures Committed to Enhancing EOS Ecosystem
Over the past year, EOS Network Ventures has been dedicated to improving the EOS network and EOS EVM. Their efforts have already led to the trustless bridging of USDT from Ethereum to EOS EVM v2. However, the success of a chain in the DeFi space ultimately depends on the quality of its applications.
Confidence in the Future of DeFi on EOS Ecosystem
ENV is confident that their investment in NoahArk Tech Group will lead to significant advancements in the EOS ecosystem and the future of DeFi. They believe that this partnership will drive innovation and attract users to the EOS Network.
Conclusion: EOS EVM’s Potential in the Competitive DeFi Space
Crypto users won’t have to wait long to see whether the EOS EVM can compete with other DeFi-friendly chains. With ENV’s investment and NoahArk Tech Group’s enhancements, the EOS EVM chain is poised to offer an exceptional decentralized finance experience.
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