DAO-led DeFi Hub, NearPad, Announces $2m Seed Raise
NearPad, the DeFi hub on NEAR’s layer 2 protocol, Aurora, has announced the successful close of its $2m seed round. The raised fund will be used to build out the features on its roadmap, expand the development team to enable them to ship faster and optimize products better, incubate, and market rather than leaning on the public raise and/or treasury.
The raise was led by NGC with participation from leading backers in the blockchain space including NEAR Foundation, OWC, Ellipti, LD Capital, Flow Ventures, Genblock Capital, Exnetwork and SuperNova Fund. NearPad has set its sight on jumpstarting ecosystem growth on Aurora through its DAO-centric protocol.
NearPad is a protocol and a community – a protocol that enables users to connect to value and a community that adds value to projects. NearPad is uniquely based on making the protocol community-owned by vesting control of its treasury and public funds in the hands of its users. Imagine having a DeFi protocol where you not only get to vote on changes to the protocol but can also propose and vote on funds allocation and utilization. Holders are empowered to vote on projects and teams to incubate, developers can directly pitch their projects to the community.
Building for the Community
NEAR protocol has quietly been growing over the past couple of months, thanks to its lightning-fast finality times and a market that is ripe for low fees and instant transfers. However, as a blockchain platform, NEAR’s ecosystem is yet to blossom the same way its competitors have in recent months, a problem Aurora is addressing by providing users and developers with access to DeFi’s most used toolings and interfaces.
“Crypto market is getting structured more like a traditional venture market but with a more robust community ethos,” says John Kwak, Co-founder & Partner of Ellipti Ventures “Especially for the burgeoning ecosystem like NEAR, it’s pivotal to thoroughly plan the projects’ journey from initiation with the right people & methods to approach the broader market overall. We are excited to back NearPAD, the all-around DeFi hub embracing diverse needs and making them real”
With the launch of NearPad, Aurora will be able to accelerate its growth of DeFi projects on Aurora even further, expanding the DeFi ecosystem beyond Ethereum and bringing further adoption and usability to the space.
About NearPad
A launchpad, DEX Aggregator, and Yield Aggregator all in one. NearPad is changing the way communities and developers access open finance tools for crowdfunding, asset management, and yield optimization. The platform will also be the first DAO-led protocol on Aurora by giving its community complete control over how treasury and public funds are utilised for the ecosystem.
▶️ HEADLINES
▶️ DETAILS
