Friday, July 1

Hong Kong-based Chiron Partners Launches $ 50m Terra Fund By CoinTelegraph

© Reuters. Hong Kong-based Chiron Partners Launches USD 50 Million Fund for Terra

Hong Kong venture capital firm Chiron Partners has launched a new dedicated ecosystem fund (LUNA), opening the door to new innovations for decentralized finance protocol (DeFi).

The Chiron Terra Fund I, also called CTI, will deploy $ 50 million in capital to support innovative projects that build on the Terra ecosystem. Projects at the intersection of decentralized finance and non-fungible token platforms “tied to the metaverse” are eligible for support, the company announced Wednesday.

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Built with the Cosmos SDK and Tendermint, Terra is a DeFi protocol that uses fiat-value stablecoins to power global payment systems. The native LUNA token has been designed to absorb the short-term volatility of Terra-based stablecoins. Following its Columbus-5 upgrade in October, Terra is reported to host more than 160 new projects by early 2022.

Read the full article on Cointelegraph

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