The Foundation behind the popular blockchain project – Algorand – has started a new initiative aiming to enhance the developments in the DeFi sector. Called Viridis DeFi Program, it will be a $300 million fund to support innovation on the Algorand network.
“The Algorand Foundation is excited to launch this funding program to help accelerate the adoption of DeFi across the Algorand Ecosystem. Creating the right infrastructure, application ecosystem, and liquidity will be key to ensuring that DeFi on Algorand is regarded as the world’s most energy-efficient, scalable, and low-cost DeFi ecosystem.” – said the organization’s CEO – Sean Lee.