Web3 Evolution: OKX and Aptos Launch $10M Fund. Learn More!

by Giorgi Kostiuk

2 years ago

Goals and Priorities of the Ankaa Fund
Partnership and Governance Structure
Recent Developments and Prospects

The development of projects on the Aptos blockchain is set to receive a significant boost, thanks to a new $10 million fund jointly launched by OKX Ventures and the Aptos Foundation. Named Ankaa, the fund aims to accelerate the growth of projects in the realms of DeFi, real-world assets (RWA), gaming, social platforms, and artificial intelligence (AI).

Goals and Priorities of the Ankaa Fund

The Ankaa fund will focus on supporting projects in these key areas:

Decentralized Finance (DeFi)
Real-World Assets (RWA)
Gaming Industry
Social Platforms
Artificial Intelligence (AI)

Not only does the fund aim to foster growth in these sectors, but it also seeks to enhance the utility of tokenized assets through innovative staking and re-staking processes, improving capital efficiency on supporting platforms.

Partnership and Governance Structure

The Ankaa fund will be jointly operated by Aptos Foundation, OKX Ventures, and Alcove, Aptos' accelerator established last November. Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, said:

“OKX Ventures' vast network and robust expertise in supporting virtually all areas of the Web3 space is an invaluable resource for the Aptos ecosystem. The team's commitment to fostering a conducive environment for innovation and growth aligns perfectly with our vision for Aptos.”Bashar Lazaar

The Ankaa accelerator program will offer selected Aptos ecosystem projects venture funding, focused mentoring, and go-to-market exposure through the extensive networks of experts at OKX, Ankaa, and Aptos Foundation. Five promising projects will be chosen for the inaugural accelerator cohort starting in September.

Recent Developments and Prospects

Recently, the Aptos Foundation launched a yield-bearing stablecoin, Ondo US Dollar Yield (USDY), developed by Ondo Finance on the Aptos blockchain. This initiative aims to democratize finance and provide underserved communities with financial products that combine on-chain native and real-world asset yields.

The launch of the Ankaa fund represents a strategic move to strengthen and develop the Web3 ecosystem through innovative projects and collaboration. Projects supported by Ankaa will receive access to unique expertise and resources, accelerating their growth and increasing investment in the blockchain industry.

Other news

Standard Chartered Implements Strict Editorial Policy for Market Commentary

Standard Chartered has announced a strict editorial policy that emphasizes accuracy, relevance, and impartiality in its market commentary.

Rajesh Kumaran hour ago

SpaceX Pre-IPO Tokenized Offerings Canceled Due to Allocation Issues

Several crypto platforms canceled SpaceX pre-IPO tokenized offerings due to failed share allocation, leading to refunds for customers.

Miguel Rodriguez2 hours ago

Arbitrum Governance Proposes Major Funding for Foundation

Arbitrum governance is evaluating a funding proposal for the Arbitrum Foundation, seeking 16 million in real-world assets, 1,700 ETH, and 230 million ARB tokens to support its operations for another year.