Algorand Foundation Launches $300 Million Fund To Accelerate DeFi Innovation

The Algorand Foundation, the primary group behind Layer-1 blockchain Algorand, announced the launch of Viridis, a $300 Million DeFi fund that will focus on accelerating, funding, and supporting DeFi innovation on Algorand. The Algorand Foundation will use the fund to help accelerate the growth of money markets, decentralized exchanges, options markets, NFT platforms, and synthetic asset applications, all of which run on the Algorand blockchain.