$18.5 Million Secured by Avalanche Accelerator in Successful Round
Colony, the accelerator for the Avalanche blockchain ecosystem, raised $18.5 Million in a new funding round. The Avalanche Foundation successfully steered the round. Other investors in the financing round included GBV Capital, Bixin Ventures, Shima Capital, HashKey, and others.
The capital raised would support the Avalanche ecosystem in various capacities. Some include liquidity provision for D’Apps within the DeFi space, seed funding for projects on the Avalanche subnet, and involvement in the Avalanche ecosystem farming process.
Avalanche is Growing
The AVAX ecosystem has received enormous attention from within and outside the cryptocurrency space. The Proof-of-Stake (PoS) ecosystem has been receiving attention as a leading next-generation ecosystem.
Its features have made it the new darling of many developers who want an ecosystem that solves problems. Colony as an integral part of Avalanche speeds project development on the subnet.
Acceleration platforms create the perfect environment for projects to gain the required traction for profit. As a Smart Contract-capable ecosystem, Avalanche has created incentives for projects to grow within its ecosystem. It also has given the Avalanche ecosystem a boost as more developers are onboarding their projects.
Colony Creates New Paradigms
Colony as a democratized Venture Capitalist and community-oriented accelerator is a new prototype. This prototype could be the model that allows for grassroots finance within cryptocurrency spaces to take root.
Its features have made this model be one-of-a-kind. The ability for community members to have a hands-on approach to investment decisions is a big plus.
Ecosystem farming is one innovation that allows everyone within the community to invest in early-stage projects. In other ecosystems, certain restrictions limit the number of investors. Ecosystem farming enables such projects to be open to all members of the Colony.
Its validator program is another distinguishing feature that separates Colony from other accelerators. The validator program allows for even distribution of Colony tokens CLY. Under the validator program, half of Colony’s CLY tokens will support projects built on the Avalanche.
10% of the tokens support the AVAX ecosystem. Another 10% support the top ten projects within the Avalanche ecosystem, while 30% support Liquidity systems.
This total integration of the various components of Avalanche portends that Colony could become an integral part of Avalanche.
Accelerator integration into blockchain projects could also become the new cool. It also helps to have such accelerators as an integral part of ledger ecosystems. It provides tools for catalyzing the adoption process while allowing projects to grow within the Avalanche subnet.
Incubation Gets a Boost
First-generation blockchain ecosystems brought us the excitement of what cryptocurrencies and their allied technologies can do. Second-generation blockchains like Avalanche bring other functionalities.
Apart from new consensus mechanisms, smart contract functionality, and community participation, we also have the ability for third-party organizations with similar aims as project founders to integrate into blockchain systems.
Critical processes such as acceleration, incubation, and growth hacking get integrated into these systems. Colony brings this to life with its integration within the Avalanche ecosystem.
Its ability to accelerate, incubate and aid the hyper-growth of projects within the Avalanche ecosystem gives a fresh perspective of the possibilities within blockchain ecosystems. It also creates a new operational environment where collaboration reigns. Rather than compete, this collaborative business model comes with many advantages.
Projects Get Better Together
As new projects continue to board within the Avalanche ecosystem, the collaborations will increase. Colony is going to be a fulcrum for collaborations. The accelerator stands to become a foundation of growth. These collaborations will increase business process efficiency and allow for high-level integration.
Innovation is going to increase. Increased diversity of the platforms and projects within Avalanche will occur.
This domino effect will enable an increase in interest and participation. It will be that point that will allow what we see as new ecosystems to become the norm. Second-generation ecosystems like Avalanche and their partners will be the new gold standard.
It may not seem like it, but we are already on the cusp of another level of innovation that will bring about the mass adoption of cryptocurrencies and their technologies.
This time, it will be an evolution and revolution of sorts.
