A collaborative effort between OKX Ventures and Aptos Foundation has given rise to a new fund. The fund is designed to establish an accelerator program to support the development of crucial projects on Aptos.
Goals of the OKX and Aptos Linkup
OKX Ventures, an investment arm of OKX crypto exchange and Aptos Foundation, a global blockchain leader, has launched a unique initiative in the blockchain space that involves a $10 million ecosystem growth fund. The fund will serve as funding to build an accelerator program, in collaboration with Ankaa.
It is a move to solely improve the growth of high-quality projects and applications constructed on the Layer-1 blockchain. Also, it will offer support, mentorship, market exposure, and access to the extensive network of experts from OKX, Ankaa, and Aptos Foundation.
Notably, Aptos is a scalable Layer-1 Proof-of-Stake (PoS) blockchain that leverages the Move programming language. This language program helps the blockchain’s reliability, usability, and security of on-chain transactions.
The aim behind this alliance with OKX is to propel the growth of the Aptos ecosystem and drive the adoption of Web3 technologies.
Perks of DeFi and AI Integration
Jeff Ren, the Head of OKX Ventures shared his thoughts in a recent interview on the new partnership. He believes Decentralized Finance (DeFi) will have great potential on blockchains like Aptos due to its secure smart contracts. In addition, the integration of Artificial Intelligence (AI) in blockchain is set to revolutionize the industry.
Ren acknowledged the applaudable performance of the DeFi ecosystem this year. He noted the recent upshot in its Total Value Locked (TVL) and the successful projects launched on the ecosystem. On the other hand, AI reigned as a key theme in the crypto industry and Web3 world this year. Its potential to boost security, efficiency, and automation for smarter systems has propelled its adoption in the industry.
No doubt, the combination of DeFi and AI on blockchains will change how financial services work. It will also open doors to new and inclusive solutions in the industry. However, Kristin Johnson, a Commissioner at the U.S regulatory agency recently highlighted the risks associated with AI in financial markets and DeFi.
This put a clause on the extent that these technologies can enjoy mainstream adoption.
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