DAO-led NearPad Announces $ 2 Million Seed Raise

NearPad, the DeFi hub at NEAR, Aurora’s layer 2 protocol, has announced the positive close of its initial round of $ 2 million.

relaunch was led by NGC with the participation of prominent sponsors in the blockchain space, including NEAR Foundation, OWC, Ellipti, LD Capital, Flow Ventures, Genblock Capital, Exnetwork, and SuperNova Fund. NearPad aimed to drive ecosystem growth in Aurora through its DAO-centric protocol.

“We are delighted to partner with NearPAD to help the first teams launch the program,” says the NEAR Foundation. “NearPAD brings the best of both worlds to early designs. Projects and members of your community can hold ERC-20 tokens to take advantage of the flow of capital within the ETH economy. At the same time you get the dynamic benefits of NEAR: lower fees and fast transaction completion.

NearPad is a protocol and a community, a protocol that allows users to connect to value and a community that adds value to projects. NearPad relies solely on making the protocol community-owned by putting control of its treasury and public funds in the hands of its users.

Imagine you have a DeFi protocol where you can not only vote on protocol changes, but you can also propose and vote on the allocation and use of funds. Owners have the power to vote on incubation projects and kits, developers can submit their projects directly to the community.

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NEAR protocol has quietly grown in recent months, thanks to its ultra-fast completion times and a mature market for low fees and instant transfers.

However, as a blockchain platform, NEAR’s ecosystem has yet to flourish in the same way as its competitors in recent months. An issue Aurora is addressing by providing users and developers with access to DeFi’s most widely used tools and interfaces.

As a Tier 2 in NEAR, Aurora provides a highly customizable platform supported by a dynamic set of tools. Which include environments to host developers at any level of expertise to make value creation, transfers, and ownership accessible and inclusive. Take advantage of important technological advantages to produce an ecosystem with greater potential.

As Ethereum becomes increasingly saturated and difficult to trade with high transaction fees and slow transaction times, DeFi users will look to explore alternative chains. Aurora is uniquely positioned to benefit from an already established DeFi ecosystem on Ethereum.

With lower fees and faster transactions and purposes, Ethereum users can take advantage of the robust ecosystem while benefiting from NEAR’s scalability benefits.

One of the biggest challenges in the blockchain industry is getting the attention of developers to create dApps in a new ecosystem. Users are also wary of adopting new ecosystems. y are not sure what to expect and tend to be conservative when it comes to adopting unfamiliar products.

NearPad is set up to remove this bottleneck by creating a platform where developers can easily connect to resources while providing users with tools to optimize their network experience.

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” cryptocurrency market is being structured more like a traditional venture market, but with a stronger community ethic,” says John Kwak, co-founder and partner of Ellipti Ventures. “Especially for the thriving ecosystem like NEAR, it is essential to plan projects in-depth ‘journey from the beginning with the right people and methods to approach the broader market. We are delighted to support NearPAD, the complete DeFi hub that addresses different needs and makes them come true «

With the launch of NearPad, Aurora will be able to further accelerate the growth of DeFi projects in Aurora, expanding the DeFi ecosystem beyond Ethereum and bringing greater adoption and usability to the space.

About NearPad

A launch pad, a DEX aggregator, and a performance aggregator all in one. NearPad is changing the way communities and developers access open financial tools for crowdfunding, asset management, and performance optimization.

platform will also be the first DAO-led protocol on Aurora, giving your community complete control over how public and treasury funds are used for the ecosystem.

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