Nervos Launches $5 Million Fund to Support DeFi Projects Ch | Top DeFi

Nervos Launches $5 Million Fund to Support DeFi Projects

Chinese blockchain network Nervos announced a $5 million fund to support projects for decentralized exchanges, credit platforms and other DeFi protocols.

Nervos is positioning the fund as a response to the "negative reaction and controversy" regarding the centralized financial sector. In recent weeks, as a result of pressure from retailers to support the stock of struggling game seller GameStop, Robinhood and other major trading platforms have suspended stock trading.

Nervos also called attention to "outdated" systems underlying existing trading systems, such as centralized management and inefficient settlement processes.

Grant applicants using the Nervous blockchain will also be eligible for hands-on support from Nervos' core development team.