OKX Ventures, the investment arm of the crypto exchange OKX, has teamed up with the Aptos Foundation to launch a $10 million fund aimed at accelerating the development of projects on the Aptos blockchain.
Goals of the Ankaa Fund
The primary goal of the Ankaa fund is to support projects in decentralized finance (DeFi), real-world assets (RWA), gaming, social, and artificial intelligence (AI).
Key Details of the Fund
The Ankaa fund will be operated jointly by Aptos, OKX Ventures, and Alcove, Aptos' accelerator established last November. This partnership aims to introduce a range of financial products that leverage the strengths of both organizations. The fund will focus on: * Developing projects around DeFi, RWA, gaming, social, and AI. * Enhancing the utility of tokenized assets through new staking and re-staking processes. * Improving capital efficiency on supporting platforms. The Ankaa accelerator program will provide selected Aptos ecosystem projects with venture funding, focused mentoring, and go-to-market exposure, as well as access to the extensive network of experts at OKX, Ankaa, and Aptos Foundation.
Recent Developments
Just yesterday, the Aptos Foundation announced the launch of Ondo Finance’s yield-bearing stablecoin, Ondo US Dollar Yield (USDY), on the Aptos blockchain. This partnership aims to democratize finance and serve underserved communities by introducing financial products that combine on-chain native and real-world asset yields.
The Ankaa fund aims to actively support and develop projects on the Aptos blockchain, offering innovative financial products and opportunities for collaboration.
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