Decentralized finance, or DeFi, has become an essential component of cryptocurrency markets and firmly established itself in the blockchain industry. Today, people are looking for more easy-to-use and reliable DeFi platforms to get involved.
Focused on DeFi applications, Proximity Labs is dedicated to offering grants and creating open-source software targeting the NEAR blockchain. It’s backed by venture-capital firms such as Andreessen Horowitz’s A16Z, Pantera Capital, Electric Capital, Dragonfly Capital, Coinbase Ventures, Blockchain.com, and Baidu Ventures.
By building under NEAR protocol, a scalable blockchain, Proximity Labs supports DeFi projects such as Curve, Sushi, Dodo, Kyber, and more to come. There are now more than 1.3 million active accounts on the network, according to the statement. Total value locked (TVL) has exceeded $860M, including $700M on Aurora and $160M NEAR native assets — alongside Ethereum network assets such as Ether, USDC, and Tether via its Rainbow Bridge connection.
In 2021 October, Proximity Labs announced the creation of a $350 million grants vehicle to help build decentralized-finance applications on the NEAR blockchain. With backing from MEXC Pioneer, Proximity Labs strengthens its capabilities to link and help more people in DeFi scenarios.
Katherine Deng, VP of MEXC Global and the founder of MEXC Pioneer, commented “Proximity Labs is a technique-focused team and provides people with state-of-the-art DeFi experience. I was always impressed by their level of expertise. The team is also a strong contributor to the NEAR ecosystem, which is also one of our strategic partners. We are happy to work closely with great talents like the team.”
MEXC Pioneer is a platform launched by MEXC Global and designed to give new projects, innovators and entrepreneurs the tools necessary to make their dreams happen. To help achieve this, MEXC Pioneer launched a $100 million growth fund to support blockchain technology and infrastructure projects.
Having supported more than 100 new projects, MEXC Pioneer has a good business record with top-tier project partnerships within the ecosystems such as Solana, Polygon, Avalanche and Algorand in their early days. In the future, the team will work closely with Proximity Labs and more partners to create bigger value in the crypto sphere.
About MEXC Pioneer
MEXC Pioneer is a business incubation accelerator focused on cutting-edge blockchain and cryptocurrency projects. Launched by MEXC Global, a leading digital asset exchange, the platform aims to be a trusted partner providing strategic business support and necessary tools to help new projects, innovators and entrepreneurs to turn their dream into reality.