The Singapore-based decentralized finance (DeFi) services firm Cake DeFi announced the launch of a $100 million venture arm dedicated to serving as accelerators for Web3, gaming, NFTs, metaverse, and other cryptocurrency initiatives. The newly launched entity, Cake DeFi Ventures, will fund crypto startups that complement the company’s core business.
“Portfolio companies have the opportunity to access numerous Cake products, connections, users, resources, and expertise within the global blockchain industry,” wrote Cake DeFi.
Cake DeFi’s primary suite of services includes liquidity mining, staking, and lending of cryptocurrencies — aimed at generating high returns from existing crypto holdings.
(All information was provided by Cointelegraph)
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