Overview:
Mark Cuban is one of the DeFi investors.
All the funds will be funneled through the DeFi startup.
The total value locked of DeFi falls by 20% after a market correction.
A Huge Startup
A joint project between the DeFi Alliance investors and DeFi experts has been introduced. Their first announcement was the establishment of a fund in order to help in innovating the newly emerging decentralized financial system.
Robert Leshner of Compound Finance, Stani Kulechov of Aave, and Kain Warwick of Synthetix, among others, are the constituents of the DeFi Alliance. The DeFi Alliance was launched with the aim of growing and enhancing the decentralized financial sector and attaining a number of 1 billion users by the end of 2025.
The finds of this Alliance have been provided by its members, which is being led by the entrepreneur Mark Cuban and other founding partners. The frontline invertors of this $15 million fund consist of Cumberland DRW, CMT Digital, Susquehanna (SIG), and Mark Cuban, the person who has been a very proactive member of the non-fungible token (NFT) ecosystem recently.
The DeFi Alliance posted a tweet on 25th Feb 2021 at around 10 pm, stating that the mission behind launching this Alliance is to grow the user base of the DeFi system to 1 billion users by the end of 2025. They also listed all the leaders of their first fund along with all the investors participating in the first fund. They announced that they have raised an amount of $15 million for their first fund and mentioned all the entities which are raising that fund.
Investments in Various DeFi Startups
The DeFi Alliance announced that they would be investing in a lot of DeFi startups, and all of the capital that they raise would be used in order to facilitate and grow those startups. They stated that they would pick various sectors such as NFTs, and they will fund a lot of different startups every year. This funding would help the new startups in attracting and maintaining new customers. The TVL of the DeFi space fell by 28% this week due to its association with Ethereum, as the crypto market goes through a correction period, but the analysts are hopeful that it will recover soon.
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