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HomeCrypto NewsTether USDT launches on NEAR as protocol launches $100M Web3 fund

Tether USDT launches on NEAR as protocol launches $100M Web3 fund

Stablecoin issuer Tether announced the profitable integration of the USDT stablecoin on NEAR protocol.

In response to Tether, launching USDT on NEAR will assist deliver extra stability to NEAR’s DeFi ecosystem and scale back the adversarial impact of market volatility on customers.

Following the profitable launch on NEAR, USDT is now built-in with eleven networks making it simpler for liquidity to be transferred throughout supported networks.

Tether’s CTO Paolo Ardoino mentioned:

“The NEAR ecosystem has witnessed historic development this yr and we consider Tether might be important in serving to it proceed to thrive.”

NEAR launches $100 million Web3 Fund

NEAR Basis has inked a brand new partnership with Caerus Ventures to launch a $100 million fund that might be used to fund creators redefining tradition and leisure in Web3.

Caerus is an funding agency that helps creators and tasks that leverage blockchain to create worth throughout sports activities, music, style, artwork, and gaming.

NEAR Basis CEO Marieke Flament mentioned:

“We’re backing Caerus as a result of they’ve a uniquely differentiated proposition and sturdy funding thesis predicated on the tokenization of leisure and decentralization of rights and licensing.”

Flament added that with new incentive buildings in Web3, creators and followers are empowered to take management of their contribution and the rewards that include it.

NEAR Basis will contribute an preliminary fund of $50 million to the partnership and plans so as to add $100 million throughout seed to Sequence A funding rounds.

Caerus will make its first funding into Enterprise Labs. Enterprise Labs collaborates with creators and franchise house owners to unlock worth from their mental property (IP), attain, and affect.

Caerus founder Nathan Pillai mentioned:

“I’ve been massively impressed by NEAR’s worth proposition for builders and customers, however extra importantly, their mission to empower creators and customers of tradition with extra management over their belongings.”

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