{"id":1077056,"date":"2021-09-16T10:00:38","date_gmt":"2021-09-16T14:00:38","guid":{"rendered":"https:\/\/www.theblockcrypto.com\/post\/117895"},"modified":"2021-09-16T10:00:38","modified_gmt":"2021-09-16T14:00:38","slug":"polychain-and-three-arrows-capital-lead-230-million-investment-in-avalanche","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/polychain-and-three-arrows-capital-lead-230-million-investment-in-avalanche\/","title":{"rendered":"Polychain and Three Arrows Capital lead $230 million investment in Avalanche"},"content":{"rendered":"\n
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Avalanche, the proof-of-stake blockchain promising the industry\u2019s fastest smart contracts, has raised $230 million in a token sale to institutional investors.<\/p>\n

Polychain and Three Arrows Capital led the round alongside R\/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital and a group of unnamed angel investors and family offices, according to a press release. <\/p>\n

The capital injection will be used to further support efforts to boost decentralized finance (DeFi) activity on the platform, as well as to support new enterprise tools. Part of the funds will be used to facilitate grants, token purchases and other forms of investment for projects seeking to build on Avalanche.<\/p>\n

\u201cThis will go to fostering the growth of the DeFi ecosystem, NFTs, collectibles, and also some new innovative systems that are coming out on top of this,\u201d said Emin G\u00fcn Sirer, director at the Avalanche Foundation. He declined to share more detail on those systems, other than that hinting that they would represent \u201cnew asset types.\u201d<\/p>\n

Avalanche already rolled out a $180 million liquidity mining incentive scheme<\/a> in an effort to lure DeFi developers in August \u2014 a move that preceded similar steps by rival blockchains, such as Algorand<\/a>.<\/p>\n

Launched in September 2020, Avalanche currently supports more than 225 projects, including well-known DeFi organizations like Tether, SushiSwap, Chainlink, Circle and The Graph.<\/p>\n

Investing via tokens<\/strong><\/h2>\n

Investors in the $230 million round \u2014 which Avalanche described as a \u201cprivate sale of tokens\u201d \u2014 purchased AVAX, Avalanche\u2019s native token, instead of equity.<\/p>\n

Those tokens give investors the right to participate in governance voting, thereby influencing the development of the platform. They also gain financial exposure to the price of AVAX, which has hit all-time highs in September, according to CoinMarketCap<\/a>.<\/p>\n

G\u00fcn Sirer said the platform\u2019s new investors \u201cknow what to do with their coins in the DeFi ecosystem.\u201d<\/p>\n

\u201cBuying tokens especially with a lock up represents a bet on the growth of that ecosystem and mass. And whether or not that bet pans out depends on a lot of actors, but it represents a belief in the growth of the ecosystem overall \u2014 whereas equity is a bet on a single entity,\u201d he added.  <\/p>\n

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\u00a9 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.<\/span><\/p>\n

<\/span> Source: https:\/\/www.theblockcrypto.com\/post\/117895\/polychain-three-arrows-capital-lead-230-million-avalanche?utm_source=rss&utm_medium=rss<\/a><\/p>\n","protected":false},"author":1,"featured_media":1077058,"template":"","meta":{"_eb_attr":"","type":"","auto_type":false,"post":"","stream":"","stream_url":"","waveform_data":[],"duration":0,"start":0,"end":0,"bpm":0,"downloadable":false,"download_url":"","purchase_title":"","purchase_url":"","post-count-all":0,"like_count":0,"download_count":0,"editor_note":"","copyright":"","captions":[],"sources":[]},"genre":[41],"station_tag":[4397,4262,4132,3761,4135,3822,7964,7179,3884,4526,3887,5759,5196,3640,4375,3722,4401,3641,4158,4301,4302,3769,3896,3938,4816,6988,7748,4064,4402,4473,3843,3900,8214,3845,3799,4181,4274,3847,3731,3650,4980,3953,3696,7133,3698,3700,3653,4255,3736,4199,3910,3741,4387,3706,4407,3663,3861,3664,4826,3665,3743,5211,3919,4804,4458,4026,3746,3747,3669,4123,4125,4228,4507,4036,3813,3750,4367],"artist":[6222],"mood":[],"activity":[],"_links":{"self":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station\/1077056"}],"collection":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station"}],"about":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/types\/station"}],"author":[{"embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/media\/1077058"}],"wp:attachment":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/media?parent=1077056"}],"wp:term":[{"taxonomy":"genre","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/genre?post=1077056"},{"taxonomy":"station_tag","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station_tag?post=1077056"},{"taxonomy":"artist","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/artist?post=1077056"},{"taxonomy":"mood","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/mood?post=1077056"},{"taxonomy":"activity","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/activity?post=1077056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}