Kava Labs announced the launch of a $185M Kava ecosystem ignition fund – After the successful launch of the Kava platform two years ago, Kava is boarding on the next phase of growth with the launch of the Kava Ecosystem.
On October 4, Kava Labs announced the launch of a $185 million Kava ecosystem ignition fund. The team disclosed the news in a series of tweets before sharing the link to their medium blog.
With this fund, the Kava Ecosystem will integrate decentralized finance (DeFi) projects to “create the most secure, truly scalable home for the coming wave of mainstream DeFi users,” says the team.
According to the team, the $185 million Kava Ignition Fund will accelerate this development, allowing for best-in-class protocols to be rapidly onboarded. Also, begin profiting from the services of the Kava Platform.
In addition, Kava Labs says that the selected Kava ecosystem projects will get a lot of benefits. This includes Kava’s highly scalable Layer-1 structure and institutional-grade security and the Kava SAFU fund.
Scott Stuart, CEO of Kava, also highlighted this action, insisting on the opportunity in DeFi.
There’s a massive opportunity in DeFi right now to be the first to bridge the gap between the early adopters and the untapped mainstream. The Ignition Fund is about getting Kava there first.
Moreover, the team added that the Kava Platform has proven itself as a safe, reliable, and accessible home for DeFi. This is because the platform successfully integrated three protocols, $2.1 billion in assets on-chain, and over 280k users. On top of that, Kava processed $1.8 billion in cross-chain transactions and counting.