Oasis Launches $160M Ecosystem Fund With Backing From Jump Capital and Others

Read the full article by Andrew Thurman here

Key Points

• Oasis Network is a layer-1 decentralized blockchain network designed to enable data privacy within DeFi, dApps, NFTs, DAOs and other Web3 applications.

• After the establishment of a $160 million investment fund, a long-dormant layer 1 project with a focus on privacy is showing signs of life.

• The Oasis Foundation announced Tuesday the launch of the fund in collaboration with a host of major venture capital firms, including Dragonfly Capital Partners, Draper Dragon Fund, Electric Capital, FBG, Jump Capital, Kenetic Capital, NGC Ventures and Pantera Capital, according to a press release.

• This is a similar fund to the one that Avalanche last month, Blizzard, where a group of VC investors committed to early stage projects.

  • Read more: Fantom Commits $314M in FTM to Boost Ecosystem Development

• However, Song told CoinDesk that the chain may be preparing for prime time. The chain hosts “ParaTimes” – essentially sidechains with different execution environments that collectively rely on the same consensus layer – and a forthcoming ParaTime, “Emerald,” will enable Ethereum Virtual Machine (EVM) projects to easily port over to the chain.

• “There is a DEX [decentralized exchange], there’s lending, NFT projects, including special types of NFTs, there are lots of exciting partnerships coming,” she said.