A group of developers and investors have announced a $100 million fund to power tokens on multiple blockchain platforms. This move will allow for an ecosystem where projects can more easily transition from one platform to another, as well as build upon each other’s innovations by incorporating them into their own project.
The “valkyrie investments” is a fund that has been announced by the company Valkyrie. The fund will be used to invest in projects across blockchains like Avalanche and Solana.
Valkyrie Investments has announced the launch of a $100 million DeFi fund aimed at institutional investors that want to become involved in the booming field of decentralized finance, often known as ‘DeFi’ in crypto circles.
On November 22, the “On-Chain DeFi fund” will go online, investing in around a dozen protocols spanning over thirteen blockchains. Accredited investors in the United States and internationally will be allowed to invest in the fund.
More information about Valkyrie’s DeFi Hedge Fund may be found here.
According to Wes Cowan, managing director of Valkyrie Investments, the company’s management team believes that there are several chances in key DeFi 2.0 and 1.0 protocols such as Solana, Avalanche, Magic, Fantom, Binance Smart Chain, and Ethereum. Apart from investing in DeFi coins, the fund will also own assets on-chain.
Cowan noted in a statement, “This lets us to participate in the upside while also obtaining extra revenue via lending, liquidity pools, farming, and staking in the DeFi ecosystem.”
The $100 million hedge fund was funded with contributions from Valkyrie’s current investors and partners. Wes Cowan, Valkyrie’s vice chairman, and Will McDonough, who formerly worked at Goldman Sachs and Avenue Capital, co-founded the offering.
Financial giants such as Goldman Sachs see DeFi as a viable alternative to traditional banking services that might benefit the underbanked. However, recent advancements in the DeFi business have failed to address the industry’s shortcomings, such as hacking and scamming.
The new hedge fund follows Valkyrie’s successful Bitcoin Futures ETF, which garnered $80 million in trading activity on its first day.
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The “valkyrie tron trust” is a fund that will be distributed to the community of Tron. The fund is expected to reach $100 million in value. This announcement comes after Valkyrie announced the release of their own DeFi platform, which will allow for tokenization and trading on their network.
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