The non-profit Oasis Foundation has launched a $160M fund to finance developers of Dapps powered by the Oasis Network, including DeFi, NFT, and the metaverse.
The fund will also invest in companies involved in tokenization and data management, develop privacy applications and create projects in the field of collective information ownership (data DAO). It will support both new and existing startups.
The organization believes the Oasis Network's ParaTime scalability architecture is "perfect for DeFi." According to the project developers, their network has high bandwidth, a lower gas cost compared to Ethereum, built-in privacy, and MEV protection functions.
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The Oasis Network platform also provides EVM and Solidity compatibility, making it easy to create dapps and migrate existing Ethereum apps to the new blockchain.
In October 2021, the Ecosystem Development Fund was established by the NEAR Protocol project team. Its volume was $ 800 million.
In the same month, cryptocurrency exchange Binance announced the launch of a $ 1 billion structure to develop and support the Binance Smart Chain (BSC) ecosystem.