Some of you might have seen some articles getting dropped on this sub about the Decipher event. For the ones that don't know, Decipher was a two day event on November 29 & 30, where devs, businesses and stakeholders could meet up. So why was this a great deal?
Everyone was hoping for some big news, which in my opinion there was. Only fractured in multiple smaller announcements. These announcements together showed why it was big news; the enormous amount of development and use Algorand is getting in the near future! So to underline this statement, here is a summery of all the things around and on Decipher, to give you all a good idea of how much stuff is currently being developed for or on ALGO.
(Disclaimer, yeah I own a small bag of ALGO. And yeah I would not wish anyone to miss this project.)
Investments
- Borderless Capital announces the launch of $500M ALGO Fund II; The fund will be all about the development of Dapps, NFTs and accelerating the growth of capital for the DeFi (liquidity mining, lending, borrowing and yield farming). With the first part they already raised $200m and with this it brings the total to a staggering amount.
- Besides the $500m fund they also announced a $10m PlanetWatch fund a couple of days earlier. "The fund will invest in the ecosystem surrounding PlanetWatch, the world's first decentralized indoor and outdoor air quality monitoring network built on the Algorand blockchain. "PlanetWatchers" or Air quality sensor hosts participating in the PlanetWatch network are compensated with PLANETS tokens for streaming air quality data." It is being deployed already in Miami!
- Algorand has been nominated as Hivemind's first technology partner. A $1.5Bn crypto investment fund founded by former Citi exec. Matt Zhang
DeFi
- Algomint opens BTC and ETH floodgates to Algorand; a bridge between the Ethereum and Bitcoin chains.
- The announcement by UNLOX of five new future-of-finance marketplaces.
- 2 Buy Now, Pay Later platforms
- A platform for insuring fine art, with the intent of securitizing assets for lending, fractionalization and trading.
- A digital-asset exchange and commerce engine that will create fungibility across cryptocurrencies, loyalty points, rewards, and fiat currencies.
- A partnership with Spin Magazine, features a curated selection of NFTs of Spin's most iconic photography and cover art.
- DeFi 2.0 Partnership with AlgoNuts, a partnership with the Algorand Foundation. Algonuts is a Defi derivatives protocol providing easy access to institutional-grade strategies.
- Tinyman (a Algo native DEX) has partnered with Moonpay for a fiat on ramp to the ALGO chain.
- Algofi raises $2.8m to build decentralised lending market. They will
- C3 has raised $3.6m to make a cross-chain clearing engine.
Others
- Asalp.io receives Algorand Foundation Grant Award, The London based firm’s protocol focuses on Charity NFTs that act as tradable, personalized donation certificates, linked to the social cause they support.
- Algorand announces Green Initiatives Alongside ClimateTrade. ClimateTrade has today announced the launch of a new “Green Treasury” that will provide the Algorand developer community with a platform for offsetting the network’s carbon emissions.
3 new grants awarded by the Algorand Foundation
- Mintdropz has been awarded a grant to build an ecosystem and community for NFT’s on the Algorand blockchain. Mintdropz will enable people to easily launch and incubate NFT projects with no coding required.
- FinClusive has received a grant from the Foundation to provide embedded financial crimes compliance to Algorand’s global ecosystem.
- Shift Markets Awarded Grant from Algorand Foundation for the DeFi platform Cables. This to deploy a versatile stablecoin orderbook-based DEX.
Sponsoring
- The foundation is currently sponsoring both the 2021 FIDE World Chess Championship as the Drone Racing League (which is dropping its first NFTs)
- Algorand is also sponsoring the Envision Racing Formula E team, as carbon negativity remains one of the pillars of ALGO.
And for a close the foundation has given some insight in the ongoing governance. Over $1.8 billion Algo has been committed to the first period of governance, with over 50,000 unique participants taking place in the inaugural voting period.
See how great the development of this project is? I hope some people see now how real growth looks like and that ALGO has it all. Try it out yourself, it is super easy to swap and add liquidity with Tinyman, or stake at Yieldly for some no loss profits. That all for super small fees. And don't forget to partake in the governance, to shape this project as you like it!
Ps. check out this post by Algopulse for a wrap-up.
