Solana Launches $100M DeFi Fund, DAOs Soar

This week, decentralized autonomous organizations and fresh fund releases dominated the DeFi ecosystem. Solana announced a $100 million DeFi fund while DAOs increased eightfold.

Vitalik Buterin complimented Optimism’s governance concept, however it lost 20 million tokens owing to a mix-up of layer-1 and layer-2 addresses. Leaked 600-page US crypto draft bill seeks extensive regulatory monitoring for DeFi and DAOs.

Several top-100 DeFi coins posted double-digit gains in the last week, while most stayed bearish on weekly charts.

In the past year, the number of DAOs, governance proposals, and votes have all risen dramatically.

Electric Capital engineer Emre Caliskan tweeted Thursday that DAO numbers had climbed from 700 in May 2021 to 6,000 presently. Over the past year, the number of ideas has climbed 8.5 times and votes have increased 8.3 times, from 448,000 to 3.7 million.

Solana Ventures raises $100M for GameFi and DeFi in South Korea.

Solana Ventures and the Solana Foundation have launched a $100 million fund to promote South Korean NFT, blockchain gaming, and DeFi businesses.

The fund will help keep some Terra-based initiatives afloat after its collapse last month.

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