In Brief:
- The Avalanche Foundation has launched the Blizzard Fund.
- The fund focused on growth of Decentralized finance(DeFi), enterprise application, NFTs and culture application.
Avalanche Foundation has launched Blizzard, an over 200$M fund that is highly focused on growth of DeFi, enterprise application, NFTs and culture application across the Avalanche ecosystem.
According to the announcement Blizzard is composed of contributions from the Avalanche Foundation and other various participants. It includes Ava Labs, Polychain Capital, Three Arrow Capital, CMS Holding, Republic Capital, R/Crypto fund and among others.
Additionally, the fund will also look for opportunities to support other emerging use cases like security token issuances, liquidity providers and self-sovereign identity.
“Blizzard will play a key role in further accelerating this growth, and solidifying Avalanche’s position as the premiere home for projects and people pioneering the next era in our space,” said Emin Gun Sirer, Director of the Avalanche foundation.
In Sept 2020, the company was one of the fastest organically growing ecosystems in blockchain. Moreover, the company has over 320 projects building on the platform including Tether, Sushiswap and much more.
In August Avalanche joined with Sushiswap to launch its mining incentive program. The foundation announced that it would launch a joint incentive program with a combined allocation of $15M to incorporate sushi.