Tezos Expands DeFi Ecosystem with DeFi Catalyst Accelerator Launch
Tezos is taking significant steps to enhance its DeFi ecosystem with the introduction of the DeFi Catalyst Accelerator (DCA) in Singapore. This six-week program is designed to support early-stage startups that are developing innovative decentralized finance applications on the Tezos blockchain and its Etherlink Layer-2 rollup.
Tezos Launches DCA as Venture Capitalist Interest Grows
- Tezos and Etherlink bring unique advantages to DeFi development, such as speed, security, low fees, and compatibility with Ethereum-based tools.
- Etherlinkโs focus on decentralization and MEV protection makes it even more appealing for DeFi builders.
Diverse Projects in the Inaugural DCA Cohort
- The first DCA cohort includes five teams: Plend, Hanji, SaveX, Hashleap, and Rivo.
- These startups are working on various challenges within the DeFi sector, such as stablecoin design, on-chain exchanges, cross-border remittances, payment solutions, and simplified DeFi investing.
Participants in the DCA program also benefit from the expertise of StableTech members, a group with extensive experience in building core components for the Tezos DeFi ecosystem.
Venture Capitalist Interest Revived in DeFi Sector
- Berachain, an EVM-equivalent L1 built on the Cosmos SDK, recently secured $100 million in Series B funding, led by Brevan Howard (BH) Digital Assets and Framework Ventures.
- Galaxy Digital announced plans to expand its investment focus by launching a new $100 million fund to support promising startups.
This renewed interest in the DeFi space follows a strong start to 2024, with an increase in publicly disclosed investment projects in the crypto venture capital sector compared to the previous month.
โAmong the various industries in the crypto market in January, the financing proportion of infrastructure projects was approximately 12%, DeFi approximately 19%, CeFi approximately 6%, NFT/GameFi approximately 12%, and L1/L2 approximately 4%,โ noted journalist Colin Wu.
Hot Take: DeFi Venture Capital on the Rise
As venture capitalist interest in the DeFi sector grows, Tezosโ launch of the DCA program and other notable funding announcements signal a promising future for decentralized finance startups. Stay tuned to see how these investments will shape the evolving landscape of the crypto industry.
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