Astar Network Joins $250M aUSD Ecosystem Fund with Polkadot Parachains & Venture Partners
March 23, 2021 — Astar Network, the leading dApp hub for WASM and EVM smart contracts on Polkadot, is joining the aUSD Ecosystem Fund along with Polkadot ecosystem partners: Centrifuge, Efinity, HydraDX, Manta, Moonbeam, OriginTrail, Parallel, Zeitgeist, and Acala.
The $250 million aUSD Ecosystem Fund will support early-stage startups building applications with strong stablecoin use cases on any Polkadot or Kusama parachain. The fund participants are seeking Solidity or Substrate-based applications driving yield or utility for aUSD, including money markets, DEXs, derivatives, asset management, DAOs, payments, and other use cases. Learn more and apply to the aUSD Ecosystem Fund.
One of the most fundamental methods of collaboration between parachains is building up liquidity, pairs, yield, and utility for a decentralized stablecoin native to Polkadot. The 9 aforementioned teams have teamed up to grow aUSD as a building block for the ecosystem with which hundreds of applications will be able to thrive over the coming decades as Web3 proliferates into the global economy.
We are joined by our funding partners Alameda Research, Digital Finance Group, LongHash Ventures among many others that have already joined the Astar Incubation Program.
Along with our parachain and funding partners, Astar Network aims to grow aUSD use cases within the Polkadot and Kusama ecosystem. The fund will support and invest in early-stage startups building on any parachain with a strong aUSD use case.
About Astar Network
Astar Network is the #1 Smart Contract Hub for WASM + EVM on Polkadot. Since winning its Parachain auction in January 2022, Astar Network has become the top Parachain in the Polkadot ecosystem in terms of Total Value Locked ($900M) and most Ethereum assets transferred over ($180M). Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major layer 1 blockchains. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM — and offers the best technology solutions and financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers to build on top of a secure, scalable and interoperable blockchain.
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Astar Network Joins $250M ‘aUSD Ecosystem Fund’ with Polkadot Parachains & Venture Partners was originally published in Astar Network on Medium, where people are continuing the conversation by highlighting and responding to this story.
