Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.
A week packed with positive advancements in the DeFi space including nine-figure fund raises, successful product launches and soaring token prices was somewhat tarnished by the news of two severe security exploits. Read on to get the full scope of developments across the week.
What you’re about to read is the smaller version of this newsletter designed for brevity. For the full version of DeFi’s developments over the last week, drop your email below.
Borderless Capital launches $500M fund to support Algorand ecosystem
Capital venture firm Borderless Capital announced the launch of ALGO Fund II this week, a $500-million initiative assembled to support the creation of digital asset projects on the Algorand blockchain.
Announced via a blog post by the Algorand Foundation, the capital will specifically focus on decentralized applications, niche services of liquidity mining, lending, borrowing and yield farming, as well as nonfungible tokens.
We are excited to announce the launch of our $500M Borderless ALGO Fund II!https://t.co/EP0U6Ib8HV pic.twitter.com/okXf6GBFo8
— Borderless Capital (@borderless_cap) November 30, 2021
Algorand is an open-source decentralized blockchain most regarded for its speed of efficiency, security and status as a potential competitor to Ethereum’s dominance.
Incepted in November 2018, Borderless Capital has already invested in over 100 blockchain-related projects via its $400-million ALGO Fund I, including Tinyman, Yieldly, Opulous and Flare Network, among others, as well as established successful accelerator programs across three major industrial continents.
Iota prepares to launch decentralized smart contract platform
Distributed ledger platform Iota announced the launch of decentralized layer-one smart contract network Assembly and accompanying ASMB token this week.
Assembly will seek to drive adoption of smart contract services and foster an environment for creators, developers and community advocates that facilitates the expansion of the Iota ecosystem into Web 3.0 sectors, including the metaverse.
Expected to launch in 2022, Assembly will function in parallel to Iota and employ the network’s existing infrastructure, most notably the directed acyclic graph structure, to operate as an interoperable, self-sovereign bridge that reaps the benefits of scalability and security, among others.
Decentralized application developers will be able to create their own smart contract chains and set individual parameters for low-cost execution fees, a function that will also enable service providers to issue on-chain stablecoin assets to incentivize validators.
In a recent Twitter post, Iota revealed that stakers can earn rewards in both Shimmer (SMR) and ASMB tokens upon launch of the networks, stating that “for every 1 $MIOTA staked, users receive 1 $SMR and 4 microASMB every 10 seconds, for 90 days, once the staking has started.”
Stakers get…
Read More: cointelegraph.com