Huobi Global has launched its Ivy Block to tap growth opportunities in the DeFi and Web3 space
With its multi-billion dollar war chest, Ivy Blocks will focus on identifying and investing in promising blockchain projects. It aims to overcome one key reason why up-and-coming DeFi projects fail — the lack of support.
Ivy Blocks will support and nurture up-and-coming DeFi projects by availing deserving projects with the most compelling ideas with a wide range of supporting services, so that they have the pieces needed to succeed.
To support these efforts, it will create the Liquidity Investment Department asset management platform for smart DeFi mining and income aggregation. Ivy Labs will be established as an innovative crypto and blockchain incubator while Ivy Research will focus on blockchain and cryptocurrency research. Together, these services will offer all-around support for promising projects.
“Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which present significant barriers to growth. “Our focus on providing such projects with liquidity investments and incubation services will no doubt contribute towards creating a better, more inclusive DeFi and web 3.0 blockchain ecosystem,” said Lily Zhang, CFO of Huobi.
Ivy Blocks will serve as a vehicle to help drive Huobi’s broader Web3 vision. Among its first projects is Capricorn Finance, an AMM-based decentralised exchange built on Cube. With more than US$1 billion worth of crypto assets under management, Ivy Blocks will help propel budding projects such as Capricorn Finance to achieve peak potential, while adding value to the development of the blockchain industry.
Photo: Shubham Dhage on Unsplash