Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Klaytn-Based DeFi Accelerator Krew Nurtures New Wave of DeFi Startups

Cryptocurrency Jun 21, 2022 09:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters Klaytn-Based DeFi Accelerator Krew Nurtures New Wave of DeFi Startups

  • Krew, a Klaytn DeFi Accelerator, has been launched.
  • The accelerator raised $4 million to support DeFi projects in the EVM-compatible blockchain.
  • KLAP recorded 100,000 pre-registration entries within 48 hours of the kick-off campaign.

A new Klaytn ecosystem-based DeFi accelerator is launched, titled Krew, to support DeFi projects in the EVM-compatible blockchain. This was followed by last week’s launch of a non-custodial lending market protocol named KLAP (Klaytn Lending Application), which was the first project Krew onboarded. The lending platform has since attracted a pool of followers for the Klaytn-native lend/borrow protocol.

To further develop the Klaytn DeFi ecosystem, Krew has raised $4 million through a pre-seed funding round that was led by Quantstamp and Ascentive Assets, followed by ROK Capital, Manifold, Krust, and Novis. Moreover, Krew enables users to both supply and redeem assets on the Klaytn blockchain, with the initial hook of KLAP and KLAY token rewards for early adopters.

With the launch of Krew, KLAP tunes all KLAY token’s emission, staking, and claiming parameters to optimize long-term value. Besides, the accelerator also enables other projects building on Klaytn with liquidity, marketing backing, advice on tokenomics, go-to-market strategies, and other crucial aspects required for launch activities.

With around 30,000 people joining the KLAP’s social channels across Twitter (NYSE:TWTR) and Discord, and more than 100,000 pre-registration entries within 48 hours into the kick-off campaign, Krew envisions to scale for retail adoption and leveraging Klaytn’s technical architecture enabling high TPS, fast finality, and cheap transactions.

Speaking on the occasion of this launch, Adam Cader, the Head of Strategy at Krew expressed his belief that “The next few months will see a great reshuffle between major L1s and their users” while he further added:

We see Klaytn as being one of the dark horses in this race due to their tight integration with Kakao and overall presence in the Korean market. With these factors combined, we feel now is the perfect time to give the extra push to bootstrap the Klaytn DeFi ecosystem.

With over 2 million active accounts in Klaytn, it is focused on nurturing support for the metaverse and revolutionizing blockchain adoption. Thereby, Krew aims to further accelerate Klaytn’s growth globally by employing its expertise to attract mainstream DeFi audiences to the network.

Klaytn is backed by Kakao Corp, known for KakaoTalk, the most popular messenger platform in Korea. However, the accelerator aims to expand the network’s adoption outside its Asia stronghold.

Continue reading on CoinQuora

Klaytn-Based DeFi Accelerator Krew Nurtures New Wave of DeFi Startups
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email