Today, we are excited to announce that Liqwid Labs, the builder of liqwid.finance, has completed a second financing round with sole participation from Project Catalyst voters via Cardano’s on-chain governance model for funding early stage startups.
The Project Catalyst vision is to establish a global VC structured as a distributed autonomous organization (DAO) that empowers Cardano holders to vote on seed project funding for the top Cardano startups on a continuous basis. Each Catalyst funding round has grown in competition (% oversubscribed), scope and level of funding with new rounds starting every six weeks. Liqwid Labs is pleased to successfully complete a second financing round in Fund3, placing first in the dApp creation challenge with 1.6B Cardano (ADA) yes votes.
We could not be more thrilled to continue partnering with one of the world’s largest DAO’s composed of an innovative group of developers, entrepreneurs, investors and builders that share our vision of bringing robust liquidity pools and interest rate curve products to Cardano. This is a fundamental step on Liqwid’s journey to bring open source liquidity pools to Cardano.
While nascent today, the DeFi space built on Cardano’s extended UTXO blockchain is on pace to grow considerably in the next few months with the launch of Plutus smart contracts and the Atala Prism decentralized identifier (DID) application. Liquidity pools for lending and interest rate curve products powered by Liqwid will play a pivotal role in this growth.
Get excited, more details on the alpha testnet app launch and functionality will be available soon.
Founder, Liqwid Labs
Liqwid is developing an open source and non-custodial liquidity protocol for earning interest on Cardano native assets and borrowing assets. The project’s main goal is to facilitate more efficient lending pools and interest rate curve products built on Cardano’s Plutus extended UTXO smart contract layer. Users can leverage the protocol to deposit supported assets and tap into the time value of their crypto-assets without creating taxable events. Protocol trading functionality will be available on Plutus mainnet shortly after the final Goguen update to the Cardano blockchain.
To learn more about Liqwid please check out our Medium intro series.