Acala completed the Series A financing led by Pantera and participated by 1confirmation, ParaFi Capital, DCG and other institutions, and will announce the details of the first parachain issuance.
Original title: “Heavyweight | Polkadot’s first DeFi platform! Acala wins support from 15 leading blockchain venture capital funds》
Written by: Acala
In the past year, Acala has become the most important DeFi infrastructure in Polkadot’s cross-chain ecosystem from initial product concept verification to complete testing of all cross-chain DeFi functions. At present, Acala has launched a series of DeFi financial products: a stable currency system for decentralized excess mortgage lending, staking derivatives, decentralized exchanges, etc. In the future, as products continue to improve and iterate, Acala will promote a new wave of financial innovation.
As Polkadot’s first DeFi platform , Acala has 14,500+ active users on the chain, and a total of 142,000+ valid transactions have been generated. In the last season of the Candy Festival, a total of 52 million US dollars of locked assets participated in the platform operation. In addition, 30 ecological partners have integrated or are integrating related modules of the Acala platform to build a cross-chain DeFi ecosystem with Acala . Although this achievement has shown the PMF (product market fit point) of Acala-related DeFi products and the fiery participation of the community, Acala will soon be connected to Kusama’s pioneer network and the main network of Polkadot will be more exciting look forward to.
There are lovers, and then there are thousands of miles
2020 ushered in the vigorous development of the decentralized finance field, and more and more DeFi projects have been tapped by the market. The outside world may be curious about quantitative indicators such as return on capital, but for institutions and Acala, the meaning behind it may have already surpassed the figures on paper, and is more like the Maxima of Bole .
Today, we are very excited to announce a new round of Acala investment institutions: Pantera led the investment , 1confirmation, Arrington XRP Capital, ParaFi Capital, Coinfund, DCG, Spartan Capital, Zee Prime Capital and Divergence Ventures joined the investment, and the new strategic partners Altonomy and CMS Holdings . In addition, seed investment institutions Hypersphere, Polychain, KR1 and SNZ continue to add support.
In the future, Acala will also stand firmly at the forefront of technological and financial innovation with investment institutions, and jointly meet challenges and grow with great strides in the wave of global financial decentralization.
“We are really happy that Pantera can support the further development and growth of Acala. We are one of the largest early investors in Polkadot , and we believe that Acala will become the DeFi center of the Polkadot ecosystem, bringing financial stability and liquidity to the entire ecosystem And accessibility, allowing mainstream audiences to enjoy financial freedom.”
——Paul Veradittakit, Partner of Pantera Capital
At ParaFi, we envision a series of DeFi ecosystems that can cross-chain, and believe that this is a win-win situation for the broader encryption industry. Acala is our first DeFi-related investment in the Polkadot ecosystem, and it is also our first investment outside of Ethereum. The speed of Acala development and innovation makes us more convinced that our choice is correct, and we are very happy to join in promoting Acala to become the most important DeFi center in the Polkadot ecosystem.
—— Santiago Roel Santos, Partner of ParaFi Capital
The Acala team has strong execution and continuous innovation in decentralized finance. Acala is built on the basis of open finance and has built core Layer 1 modules such as decentralized exchanges, staking derivatives and stablecoins. Hypersphere Ventures is very pleased to add to this round of investment in Acala, and is ready for the upcoming first parachain issuance of Acala in the future, and continues to support the team.
—— Jack Platts, Partner, Hypersphere Ventures
Introduction to the new round of investment institutions
Founded in 2013, Pantera has rich investment experience in traditional finance and emerging blockchain technology, and is the world’s top blockchain investment fund in the industry. Polychain’s seed investment fund has a long-term return rate of 10,000% and manages nearly $600 million in crypto assets. It is currently one of the institutions that holds the most high-quality crypto assets such as BTC, ETH, and DOT.
ParaFi was founded in 2018 by Ben Forman, a former employee of private equity giant KKR. It is a top venture capital focused on the blockchain and DeFi market. The team has many years of institutional investment experience in top asset management companies such as KKR, TPG and JPMorgan, and has invested in DeFi projects such as Aave, Maker, Teller and Kyber. In August of this year, it co-invested in Uniswap with Silicon Valley’s top investment fund A16z.
Founded in 2015, DCG is one of the few financial giants on Wall Street in New York, USA that focuses on blockchain and encrypted asset investment. DCG has invested in more than 150 blockchain companies in more than 30 countries around the world. Well-known projects such as Coindesk, Coinbase, Zcash, and Filecoin are all in its portfolio, and it has one of the largest cryptocurrency investment funds, Grayscale (Grayscale), and Genesis, a large-scale crypto asset institution market maker.
Arrington XRP was established in 2017. According to the official website of Crypto Fund Research, it is currently TOP 5 crypto asset management funds. Its founders are IT news website TechCrunch and venture capital fund CrunchFund founder Michael Arrington. Its portfolio includes XRP (Ripple), High-quality projects such as Polkadot, Casper Labs and Telegram.
1confirmation was established in 2017 by Nick Tomaino, an early employee of Coinbase. It is one of the earliest funds to deploy DeFi and Staking. Its investment portfolio includes Polkadot, Coinbase, Maker, dy/dx and Augur.
Founded in 2015, Coinfund focuses on the investment and research of encrypted assets. In 18 years, it has reached a cooperation with Rockefeller’s venture capital firm Venrock. Its CEO Jake has a keen investment sense and solid financial technology capabilities, and is the most invested in the past three years. One of the successful investors. The initiators and practitioners of “generalized mining” have already deployed high-quality DeFi projects such as Compound before the boom in liquid mining this year, leading the boom in liquid mining.
Spartan Capital is an encrypted asset management fund focusing on fundamental investment. The team has more than 20 years of investment management experience in Goldman and Indus Capital. Its investment style is known for its rigorous valuation analysis and strong risk management, and it is good at early detection High-quality investment opportunities, control risks and capture outstanding returns.
Divergence Ventures is an investment fund established by blockchain project operators, including Calvin Liu and Geroge Lambeth, the strategic directors of Compound and Balancer, respectively. The fund has invested in high-quality DeFi projects such as Compound, Balancer, and 1inch.
ZeePrime Capital is an encrypted asset management fund located in Europe. Its investment style is known for its calm and steady investment style. It is particularly good at discovering high-quality programmable encrypted assets. It is the earliest founder of the Polkadot community in Northern Europe. Its investment portfolio includes Polkadot, Terra, Synthetix, Ren, YFI, etc.
Seed round institutions for additional investment
Hypersphere is a special fund for the Polkadot ecological project led by Polkadot co-founder Robert Habermeier and Web3 Foundation consultant Jack Platts.
Polychain was founded in 2016 by Olaf Carlson Wee, Coinbase’s first employee. Backed by A16z, Union Square Ventures and Sequoia Capital, Polychain is one of the earliest native crypto hedge funds. It manages more than $1 billion in assets and is currently the largest DOT holding. Some have invested in 41 different investments publicly disclosed in 7 fields including Parity, Web3, Coinbase, 0x, Maker and Compound.
KR1 is a UK listed company, its full name is Kryptonite 1, a leading crypto asset investment institution in Europe. It was established in 2016 and focuses on supporting the construction of a decentralized platform and protocol for the emerging Web3 infrastructure. Any individual or institution can be public at NEX in London KR1 shares are bought on the stock exchange.
For many years, SNZ has been in depth in the fields of investment, consulting services and community construction in the blockchain industry. Early ETH and Polkdadot investment institutions have successively successfully invested in high-quality blockchain projects such as Maker, Bancor, and Bihu.
New strategic partners
Altonomy focuses on the field of crypto-asset transactions and asset management, and is committed to providing legalized crypto-assets for global institutional investors. It is the first to provide institutional-level liquidity services, over-the-counter block transactions, and consulting and asset management services specifically for the cryptocurrency market. Seller’s trading platform.
CMS Holdings was founded by Daniel Matuszewski, the former head of Circle Trade, an over-the-counter (OTC) platform owned by the crypto asset company Circle. Other partners of the company include Bobby Cho, former head of trading in the crypto department of the broker Cumberland DRW, and Julien Collard, former head of technology at Circle. Seguin.
Stand firm and walk with one heart
The past ten years have been the golden decade of blockchain development, and the next decade will also see the DeFi market surging out of the sea and riding the wind.
The above investment institutions and strategic partners will help Acala to further develop and grow in the following three aspects, and jointly bring financial stability, liquidity and accessibility to global users:
- Help Acala Parachain become the financial center of Kusama and Polkadot
- Consolidate the application of Acala core protocol
- Help more DeFi application projects build Dapps on Acala
Acala will soon announce details about the first parachain release on Kusama and Polkadot. To get the latest relevant Acala Parachain related details in time, please click the link to subscribe.
Source link: mp.weixin.qq.com
