EMURGO announces it will invest over $100 million in Cardano Defi ecosystem – In a tweet, EMURGO’s CEO announced that it will invest $100 million in the Cardano. The official announcement was made last Sunday at the Cardano Summit 2021.
This investment, according to Ken Kodama, EMURGO’s CEO, aims to boost the Cardano (ADA) DeFi ecosystem. In addition, he says that this will help accelerate not only the DeFi but Cardano’s NFT solutions as well, and blockchain education in general.
Kodama also added,
We will create a dedicated operation from 2022
To clarify, EMURGO is a blockchain solutions company — the commercial arm of Cardano. According to EMURGO’s Twitter account, its new Cardano ecosystem ventures have already made seed investments in Cardano’s projects. From which, the public is eager to know about.
Everyone Wants DeFi!
DeFi or decentralized finance is an innovative technology that has given the financial sector an upgrade. Through DeFi, the sector now uses smart contracts and advanced codes that enables peer-to-peer financial services to users.
Presently, most of the DeFi activities happen in the Ethereum blockchain — followed by Solana, Avalanche, and others. Now, Cardano is finally solidifying its DeFi adoption. In fact, Cardano recently launched its Alonzo mainnet, which allows smart contract functionality.
To conclude, this venture from both EMURGO and Cardano gained praise, especially from the Twitter community where Kodama tweeted about it. The public is excited to see what’s going to happen next. What’s more, some even say they can’t wait to see what the future holds.