A consortium of leading blockchain investors including NGC, NEAR Foundation, OWC, Ellipti, LD Capital, Flow Ventures, Genblock Capital and SuperNova Fund have joined forces together to support NearPad in bootstrapping development on NEAR's EVM-compatible layer, Aurora. The event, which saw $2m USD raised to fund the development of the DAO-led platform, is set to thrust Aurora’s unique positioning in the DeFi space into the limelight through the creation of new synergies between developers, users, and backers.
The blockchain is the most disruptive technology since the creation of the internet and is currently in its infancy. While it may seem easy to create a new dApp, most of these apps face difficulties when it comes to sustainable adoption or growing communities. At the same time, the growth of some existing platforms and user base potential is being hampered by scalability issues.
As the Ethereum blockchain gets more and more congested and slows down, DeFi users will be looking to find an alternative chain. Aurora is uniquely positioned to benefit from an already established DeFi ecosystem leveraging its proven technical prowess to deliver the stability, scalability, and functionality users have been craving for. All that is missing is a platform where developers can directly launch their products to relevant communities and users interface with empowering tools. This is where NearPad comes in.
NearPad is an open protocol and a community built on furthering the development of DeFi on Aurora. With its launch, the growth of DeFi projects on Aurora is set to be greatly accelerated even further. Developers will be able to directly interface with potential userbase, backers, and development resources while users will have the opportunity to back and use cutting-edge products to improve their experiences.
Built on the premise that protocol communities deserve better tools and participation, Near Protocol is a community-owned platform created to be future-proof. The platform is democratizing value and ownership by vesting the power to propose, fund, and incubate projects in the hands of token holders. Token holders get a say in what projects are accepted onto the platform. Rather than counting on a small group of investors to accept and decide the fate of applications, projects will be pitched to the community for everyone to vote.
With the completion of the seed raise, NearPad is now looking forward to bringing further adoption and usability on Aurora.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.