$150 million to drive adoption of DeFi and Cosmos

Decentralized finance (DeFi) is in vogue right now. Some data suggests that this technology should continue to expand in order to take hold. An eventuality that some crypto companies and in a broader spectrum, blockchain players are preparing for. Cosmos positions itself on the opportunity.

A fund to support developers active on Cosmos

Injective Labs is a company that researches and develops decentralized finance (DeFi) solutions. She announced, Wednesday, January 25, the launch of a fund worth 150 million dollars. This envelope is intended to stimulate the adoption of DeFi. It should also allow the promotion of the Cosmos network, reports Cointelegraph.

This is Injective Labs’ development kit, dedicated to building applications designed for its Injective blockchain protocol.

This fund will benefit the development of the ecosystem Cosmos

It is precisely the developers, active on this network, that the fund wants to support. This support will consist of granting funds, in the form of “tailor-made tokens and equity investments” to projects that build DeFi and interoperability infrastructure.

Also affected by this funding process are initiatives focused on the creation of exchange platforms. There are also providers of scalability solutions and proof-of-stake infrastructure.

What about the methods of allocating funds?

In concrete terms, the allocation of these funds will be based on the compliance of the projects selected with the vision of the Injective ecosystem.

“The Ecosystem Initiative’s approach to allocating funds is to focus on finding the right fit for each project, rather than being too stringent about a fixed number of grants,” said Eric Chen, co-founder and CEO of Injective Labs.

The manager added: “In terms of stage, the group mainly targets early-stage projects. But follow-on funding can also be considered on a case-by-case basis. The amount of funding awarded will vary depending on the stage and needs of the project. The aim is to provide the right level of support for each project to succeed”.

We can see through this initiative that even if DeFi did not experience extraordinary growth in 2022, this market still has some room for improvement. The transparency it offers will likely attract many investors. It will also offer more innovative solutions to problems in the blockchain ecosystem, especially in the area of ​​crypto.

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