DeFi Near Blockchain puts $ 100 million on the table to compete with Ethereum

Millions of dollars to expand – Many blockchains with a DeFi ecosystem have emerged in recent years. To stand out, they have to rely on developers. Therefore, the foundations behind these blockchains do not skimp on the means of attracting Web 3 talent. This is especially true with Close who just announced his web investment fund 3.

Close: a new competitor to Ethereum

Close it is a so-called blockchain layer 1 based on consensus in Proof of Stake. This was launched in April 2020, along with its NEAR token.

However, it will take more than a year to see the emergence of a DeFi ecosystem. Thus, in August 2021, the first DeFi protocols are implemented on the blockchain. Now it has a ten protocols which accumulates a total of 293 million dollars deposited in their pools.

Evolution of Near’s TVL

Near sets itself apart from the competition by offering a method of resizing baptized unique “Sharding Nightshade”. Furthermore, Near relies on second-level solutions. Indeed, the network hosts Auroraa second level solution compatible with EVM.

This EVM-compatible solution has already attracted several well-known Ethereum DeFi protocols, such as Curve, Pickle Finance, and Beefy.

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100 million to finance the development of the web 3

Faced with encouraging developments, the Near Foundation now wants to do double duty. The latter, in fact, has announced to join forces with the venture capital company Caerus Ventures for create an investment fund. The fund had an initial close of $ 50 million and aims to raise another $ 50 million.

The objective of this fund will be to support developers and builders of protocols on the Near ecosystem. As explained Nathan Pillaithe founder of Caerus Ventures:

“We were very impressed with Near’s value proposition for developers and users, especially with regards to its mission to give creators and consumers of culture greater control over their assets. We are therefore creating this partnership to help revolutionize ecosystems. of existing multilayer entertainment, increasing the size of the market and promoting greater equity. “

Last June, the protocol Close unveiled his JavaScript Software Development Kit (SDK). The goal is to allow 20 million JavaScript developers to easily interact and create projects on Near.

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