Algorand Foundation Launches Viridis Fund Worth $300M To Support DeFi Eco-Space

 Viridis is a latin word meaning Green, Young, Vibrant, Fresh, to grow

The Algorand Foundation is excited to launch the Viridis DeFi fund. This fund will provide 150 Million $ALGO (worth approximately $300 million USD today) to fuel the significant early growth of the DeFi ecosystem on Algorand. he fund will fuel the growth of decentralized exchanges, money markets, options markets, synthetic asset applications, and NFT platforms, all running on the best blockchain network for the future of finance.

Algorand already share the first two ‘SupaGrants’ which have been designed to support the creation of critical DeFi infrastructure. Introducing the $5 Million Price Oracle SupaGrant and the $5 Million Bridge SupaGrant. The $5M Price Oracle SupaGrant will seek proposals for the integration of oracle networks with associated price feeds. Applications can be made through its Price Oracle SupaGrant portal.

Furthermore, during the press release published on the PRNewswire, the Algorand CEO stated and we quote:

“The Algorand Foundation is excited to launch this funding program to help accelerate the adoption of DeFi across the Algorand Ecosystem. Creating the right infrastructure, application ecosystem and liquidity will be key to ensuring that DeFi on Algorand is regarded as the world’s most energy efficient, scalable and low cost DeFi ecosystem” — Sean Lee, CEO of the Algorand Foundation.

Algorand Foundation will help grow and inspire a vibrant, dynamic, rapidly growing DeFi ecosystem on the Algorand Network. And everybody that builds their DeFi applications on Algorand can do so in the knowledge that they are building on the most sustainable, carbon negative, high performance blockchain. Viridis will enable sustainable, green, wealth creation.

ABOUT Algorand Foundation
Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open source software, which was initially designed by Silvio Micali and a team of leading scientists.

ABOUT Algorand 
Algorand is a high-performance next-generation blockchain whose goal is to create a transparent system in which everyone can achieve success through decentralized projects and applications.

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