Oasis Foundation, a developer group, believing in integrity and longevity, announced its launch of a $160 million ecosystem fund to help founders and project developers on the Oasis network and ecosystem. Oasis network is a privacy-enabled blockchain that focuses on DeFi and the data economy.
Wednesday’s announcement says that the fund is dedicated to attracting new developers to the Network, inviting them to build the next generation of decentralized applications (DApp) that support DeFi, data tokenization, Non-fungible tokens (NFTs), and the metaverse.
The company confirmed that it would provide grants to startups and existing projects created on the Oasis Network.
The $160 million fund comprises contributions from many major partners, including AME Cloud Ventures, FBG, Jump Capital, Dragonfly Capital Partners, Electric Capital, Kenetic Capital, Draper Dragon, NGC Ventures, Oasis Foundation, and Pantera Capital.
Oasis Foundation invites developers to innovate on its Network
Jernej Kos, director of Oasis Foundation, commented on the launch by saying that the company is thrilled to support longtime supporters of Oasis. He further added that the Network is fully ready for the developers to hop in. He added:
“We invite all developers to consider Oasis as we are ready to support them with funding, technical expertise and mentoring, and a strong network of backers.”
Oasis Network is marketing itself in a much cheaper way than Ethereum using its ParaTime scaling architecture. Ethereum’s high gas fees continue to haunt developers, which is shifting them to other chains.
However, Ethereum still rules by having the most active developer community within the DeFi by a broad margin. It accounts for more than $172 billion of the total value locked across all the DeFi. Binance, on the other hand, stands at the second position and has over $19.3 billion in total value locked.
Many firms are making efforts to raise funds to support small developers and entrepreneurs in their journey to bring innovative projects. Before this, as TheCoinRise reported recently, another DeFi deep liquidity provider WOO Network secured $30 million.
