📈 Top Launches in crypto from the past week
dYdX releases governance token | 🔼 97
Terra launches Project Dawn, $150M Fund for infrastructure & Cosmos | 🔼 76
Algorand launches $300M Viridis Fund for DeFi | 🔼 46
👇 More detail below
🤔 Why it Matters
dYdX is one of the DeFi OGs and had held off launching a token for a number of years. For this airdrop, approximately $10-100k was given out to its users, which excluded anyone in the US due to regulatory fears.
https://medium.com/terra-money/introducing-project-dawn-5c2c8440c982
🤔 Why it Matters
Terra has seen explosive growth during 2021 and is the DeFi crown jewel of the Cosmos ecosystem. Launching this fund shows their commitment to building incredibly strong infrastructure for that ecosystem and supporting the L0 they are built on top of.
https://www.coindesk.com/business/2021/09/10/algorand-foundation-launches-300m-defi-innovation-fund/
https://www.coindesk.com/business/2021/09/10/algorand-foundation-launches-300m-defi-innovation-fund/
https://twitter.com/CoinDesk/status/1436296641393405954
🤔 Why it Matters
Algorand has been a rival smart contract blockchain to Ethereum for many years but has struggled to find high traction use cases. So as other “ETH killer” blockchains like Solana go to the moon, Algorand is making a big bet on DeFi to provide those core applications and users to the network. In a world of many chains for many things, each one will battle it out to carve out a niche in the emerging the hot sectors like DeFi/NFTs/gaming/Web3/etc.