{"id":340167,"date":"2021-09-16T19:30:00","date_gmt":"2021-09-16T16:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/avalanche-foundation-raise-230m-to-support-defi-ecosystem\/"},"modified":"2021-09-16T19:30:00","modified_gmt":"2021-09-16T16:30:00","slug":"avalanche-foundation-raise-230m-to-support-defi-ecosystem","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/avalanche-foundation-raise-230m-to-support-defi-ecosystem\/","title":{"rendered":"# Avalanche Foundation raise $230M to support DeFi ecosystem"},"content":{"rendered":"

“# Avalanche Foundation raise $230M to support DeFi ecosystem <\/strong>”
\n<\/p>\n

The Avalanche Foundation has announced an significant\u00a0$230M investment from a venture capital group spearheaded by Polychain and Three Arrows Capital for the purpose of supporting the growth of the DeFi ecosystem and their ever-expanding list of app<\/a>lications utilizing the blockchain.<\/p>\n

Since launching in September 2020, Avalanche has cultivated a burgeoning influence on the DeFi landscape, with its smart contracts platform now providing the infrastructure for over 270 industry projects including SushiSwap, Chainlink, Circle, and The Graph, among others.<\/p>\n

The $230M capital \u2014 raised through the private sale of its native token \u2014 will be allocated by the foundation across a multitude of use-cases within its blockchain including for \u201cgrants, token purchases, and various forms of investments and technology<\/a> support.\u201d<\/p>\n

Emin G\u00fcn Sirer, director at the Avalanche Foundation, shared his thoughts on platform\u2019s recent advancements and future potential:<\/p>\n

\u201cAvalanche has quickly turned promise and potential into real-world impact and value creation for DeFi users and developers. The community of builders rallying around the network is a testament to its competitive edge, and there is still so much potential yet to be tapped at the intersection of institutional and decentralized finance on Avalanche.\u201d<\/p><\/blockquote>\n

Data from CoinMarketCap reveals<\/a> that the Avalanche\u2019s native cryptocurrency token AVAX has surged 50% this week, a figure only surpassed by HBAR and CRV in the Top-100 list. This places the blockchain project at a respe\u00a0ranking of #13 with a total market capitalization of $14B.<\/p>\n

Related:\u00a0Zabu token price flatlines after $3.2M attack on Avalanche blockchain<\/em><\/strong><\/p>\n

DeFi pla Aave yesterday announced<\/a>\u00a0future community-wide vote on whether the \u201cdeployment of smart contracts in Avalanche C-Chain and activation of liquidity mining program\u201d would be beneficial to the collaboration of the two ecosystems.<\/p>\n