Solana Continues Liquidity Protocol Progress With Venture Capital Support

By Kevin • February 12, 2022 12:59 pm • Comments

As of today, centralized exchanges are often used for investors and traders to buy or sell digital assets which means that any security support that the user gets is often reliant on whoever is hosting the exchange.

Due to this, any breach in security in such a centralized exchange could result in the loss of millions if the digital assets.

Any business that utilizes centralization will inevitably come with similar risks as hacks, fraud, and market manipulation  are often common occurrences in these types of businesses.

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As a result, the new emerging concept of a decentralized exchange has recently emerged as a solution to resolve these issues and could serve as the new foundation on how digital assets are exchanged between investors and traders.

CoinTelegraph reports:

To bring this concept to life, Alf Protocol has arisen to maximize liquidity provision (LP) in a manner that will efficiently handle capital deployment between traders and investors, features made available through AlfMM (a DEX service) in the niche ecosystem forming around the Solana (SOL) network.

Leveraging Solana’s strong foundation, Alf effectively becomes a family of protocols that brings together traders of all risk levels to conduct trades, facilitating liquidity and maximizing capital efficiency.

Leveraged positions are currently available through leveraged long and short transactions and LP yield farming.

Furthering their efforts of blockchain liquidity has come down to the addition of several signed partnerships with venture capitalists (VCs).

The team believes these partnerships will be crucial to Alf Protocol’s continued efforts in working with their community.

So far, an impressive list of venture capital funds have already thrown in their support for the project which includes DustVentures, Zen Capital, Dib Ventures and Scorpio.

The goal of the project is to essentially continue to build progress for this liquidity protocol to make it much more usable within the Solana ecosystem.

VC Zen Capital in particular has a well known reputation already in funding DeFi protocols and has other promising projects that it has already has a part in funding such as  Ertha, Spellfire, Solchicks and ReadyplayerDAO.

The funds support to support this protocol on Solana promises a positive outlook for the Solana ecosystem as it matures within the DeFi space.

The other investors that have taken part all also have impressive histories which make the project look more and more promising.

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The funding fund DibVentures, additionally joins the ranks with a spotlight particular to blockchain expertise and the better digital foreign money ecosystem.

Their group has a various breadth of expertise, which turns into evident of their dedication to figuring out, researching and funding initiatives they deem disruptive within the trade.

One other notable agency is Scorpio VC, an asset administration agency that manages short-term quantitative funds, digital asset funds, e-commerce and actual financial system initiatives, amongst others.

Key to their efforts is the power to resolve monetary difficulties and useful resource issues for SMEs, enhance  liquidity and speed up the event of related initiatives.

Final on the record is Alpha Hunt Membership, a gaggle of seasoned traders that collaborate with younger blockchain and cryptocurrency firms to assist speed up their development.

The group continues to hunt, therefore the identify, for brand new and thrilling initiatives within the blockchain area to kind mutually helpful relationships.

As the DeFi space continues to expand in recent years with a number of promising projects that are being built on the popular blockchains, it looks so far that Solana may have a chance in getting a head start in this area with this new funding.

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