ICON’s P-Reps Approves Funding for the KarmaDAO

ICON’s P-Reps will now accept financing for KarmaDAO, a DeFi 2.0 project backed by protokol7.

The goal of KarmaDAO is to “assist protocols in establishing protocol-owned liquidity along with offering advantages to network members — users. OlympusDAO pioneered Protocol Owned Liquidity, and DigitalDave gave a very informative Twitter thread introducing readers to the project and the notion of DeFi 2.0, i.e., Protocol Owned Liquidity. With the approval of the project, the ICON Network will have another significant DeFi platform.

ICON Foundation will connect with Joins Efficient Frontier Funding Round. Animoca Brands, Alameda Research, Kyber Ventures, Collider Ventures, and Starkware joined the ICON Foundation in an eight-figure fundraising round at the Israel-based algorithmic market creator Efficient Frontier earlier this month.

According to sources, Efficient Frontier is seeking funds to use for creating the world’s most powerful automated trading system for digital assets.

Efficient Frontier CEO Roei Levav said that they felt this was the right moment to seek partners and be a part of the successful journey and create connectivity in the crypto world.

Daeki Lee on NFTs

Reimagine v11.0 spoke with a variety of professionals to learn more about how NFTs are affecting various businesses. Anyway, Daeki Lee, ICON’s head of the ecosystem, expressed his perspective on whether NFTs may be applied to physical space, such as real estate fractionalization.

To make a long tale even shorter, Lee believes it makes sense, and the technology may not yet be fully developed. This is the reason digitally native NFTs are gaining in popularity.

Lee believes that tokenizing tangible goods into NFTs make reasonable. A good example is real estate. Another fantastic example is ticketing. The tricky element is establishing a link between the actual and on-chain worlds and ensuring that they are both accurate in a trustworthy manner. And that aspect is still not repaired.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

Related Articles

Back to top button