New fund aims to put hundreds of millions toward Algorand DeFi growth By Cointelegraph

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New fund aims to put hundreds of millions toward Algorand DeFi growth

Decentralized finance, or DeFi, has developed significantly over the past two years. The Algorand Foundation has unveiled a new fund positioned to allocate money toward certain DeFi projects looking to build on its native blockchain.

The pool of capital is called the Viridis DeFi fund and is headed up by the Algorand Foundation — a group that was responsible for the Algorand blockchain and its ecosystem development. “This fund will provide 150 Million Algo to fuel the significant early growth of the DeFi ecosystem on Algorand,” according to a Friday post on the Algorand Foundation’s website.