Cardano’s innovation fund has invested into the Occam.fi ecosystem.
The cFund, supports projects to build critical infrastructure for the Cardano blockchain.
Occam.fi is a suite of DeFi solutions designed to deliver decentralised launchpad capabilities, DEX tools, swap capabilities, and liquidity pools for Cardano native tokens. Occam.fi is one of the first and most significant additions to Cardano’s rapidly expanding DeFi landscape.
The first component of Occam.fi’s ecosystem is its decentralised funding platform, or launchpad, called OccamRaze which can facilitate capital raises through OccamRazer’s initial decentralised offering (IDO) capabilities.
Charles Hoskinson, founder of the technology firm IOHK firm behind the Cardano Blockchain, said Occam’s work could help take projects into the next stage of development.
“We are excited to see growing funding and utility flowing into Cardano,” he said.
“Empowering the next generation of innovative projects is a key focus for Cardano, and projects like Occam will play a key role in the ongoing development of the ecosystem.”
The Occam.fi developer team are members of the Plutus Pioneer Program – an educational program focused on building Cardano-based applications – and expect to have the necessary components in place ready to transition from Ethereum following the launch of smart contracts on Cardano through the Alonzo hard fork.
Part of its treasury
The Occam Association will use the awarded funds as part of its treasury in order to improve and enrich the Cardano ecosystem through the ‘Occelerator’ program – an incubator designed to take early-stage Cardano projects through to launch.
Mark Berger, President of the Occam Association, said he believed the investment from the cFund would provide a lasting legacy to both Occam and Cardano.
“Today marks a momentous occasion for the recognition of Occam.fi’s commitment to Cardano,” he said.
“We have embarked on an ambitious mission of bringing DeFi and decentralised launchpad capabilities to Cardano, and a strategic investment by cFund – and their expertise that comes with it – will be instrumental in making Occam.fi a long-lasting success.”