New Order raises $4 million to launch venture DAO incubator
New Order has announced that it has raised $4 million for its new community-led venture DAO incubator for innovative DeFi products that are looking for support from the crypto community as the DeFi ecosystem grows.
Those who participated in the private round included Digital Finance Group, Outlier Ventures, and others as well. It is expected to be launched in the early part of December to incubate 20-30 projects per year. It is also reported that it has already incubated 3 projects which would be launched in the next couple of months. It seeks to resolve the problem of innovative DeFi products that struggle with bringing in community and liquidity into their projects. This would be resolved by building a strong partnership ecosystem creating a win-win situation for everyone involved in them so that they can help each other to source the large community as well as liquidity.
“DeFi is entering a new phase and most investors and alliances which help early teams are not getting their hands dirty enough at the ground level – this means building alongside founders,” said Eden Dhaliwal, Co-founder of New Order. “With our DAO structure, we are committing to gathering the best DeFi builders while funding and building out in the open with the community from day 0”.
New Order will also include a venture platform that will serve L1 networks and DeFi protocols for projects that require cross-community and cross-chain development which are the key ways in which DeFi projects develop. An innovative aspect of New Order’s DAO is the presence of a dApp marketplace, where users will be able to discover the latest products and that will generate revenue in stablecoins, BTC, ETH, to develop a diversified and risk-neutral treasury for the DAO.
The DeFi space has the potential to grow even further but nowadays, most of its shine and attention has been taken away by fads like the NFTs. It is expected that interest will return to the DeFi space shortly and it is then that the second phase of growth in the ecosystem would happen and for that, many common-interest groups need to get together and support each other through community work during the tough times so that they can make hay when the next wave of interest begins.