[Press_Release] Wemade Tree Announced a Strategic Investment In BitDAO
#WEMIX #Strategic #Invest #BitDAO #DeFi #Aggregator#Blockchain
Wemade Tree Announced a Strategic Investment In BitDAO
- Wemade Tree investing alongside the world’s top investors including Peter Thiel, Pantera Capital, Alan Howard, Founders Fund, and many others
- Wemade Tree’s first global investment; continuing solid expansion in the blockchain space
- New DeFi service aggregator model by BitDAO
Wemade Tree, the blockchain subsidiary of Wemade, announced a strategic investment in BitDAO.
BitDAO(http://bitdao.io) drew attention from the world’s top investors with a new DeFi service aggregator model, and successfully raised capital from investors such as Peter Thiel (founder of PayPal and the first external investor of Facebook), Founders Fund (founded by Peter Thiel), Pantera Capital (which also invested in Coinbase and Ripple), Dragonfly Capital, Alan Howard, Spartan Group, and Jump Capital. In total, USD 230 million was raised.
Bybit, one of the world’s largest cryptocurrency derivatives exchanges with more than 2 million registered users and daily trading volume of more than USD 10 billion, announced it will contribute 2.5 basis points of its futures contracts’ trading volume to BitDAO going forward. The contribution amount is expected to be more than USD 1 billion per year.
BitDAO will make use of Bybit’s recurring contributions to provide liquidity and finance new projects including decentralized exchanges, lending, synthetic financial products, etc. BitDAO also plans to help foster the DeFi ecosystem and encourage innovation through grants, and aid existing and emerging projects through token swaps.
“BitDAO’s DeFi service aggregator model is very promising, and our view on the growth outlook of BitDAO aligns with the world’s top investors’ view,” Wemade Tree mentioned on its first global investment.
According to the DeFi data provider DefiLlama, Total Value Locked(TVL) in the DeFi segment amounted to around USD 107.7 billion as of 1AM July 1st (GMT).
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