APT
by BSC News
August 1, 2024
The first cohort of projects will be chosen by a panel of judges in September.
OKX Ventures, the investment arm of crypto exchange OKX, has teamed up with the Aptos Foundation to launch a $10 million ecosystem growth fund. The fund, named Ankaa, aims to accelerate the development of projects on the Aptos blockchain.
Calling all BUILDers 💪@OKX_Ventures and @aptos announced a new $10m fund and accelerator dedicated to advancing innovation in Web3.
— OKX (@okx) August 1, 2024
The accelerator will support key projects that are critical to the evolution and growth of the ecosystem.
More 👇https://t.co/oWnpG3CFZp pic.twitter.com/J309qRHJ4o
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).
"OKX Ventures' vast network and robust expertise in supporting virtually all areas of the Web3 space is an invaluable resource for the Aptos ecosystem," said Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation. "The team's commitment to fostering a conducive environment for innovation and growth aligns perfectly with our vision for Aptos."
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.
A panel of judges from the Aptos Foundation, OKX Ventures, and Ankaa teams will choose five promising projects to include in the inaugural accelerator cohort starting in September.
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..
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
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