New Order raises $4 million to launch venture DAO incubator

Karthik Subramanian

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.

Read this next

Digital Assets

Zero Hash obtains AUSTRAC registration in Australia

Seed CX is expanding the reach of its crypto settlement solution, dubbed ‘Zero Hash,’ which has registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider.

Digital Assets

UK advertising watchdog slams Arsenal over misleading crypto ads

The UK advertising watchdog has reprimanded Arsenal Football Club for promoting crypto assets without warning fans of the potential associated risks.

Retail FX

Swissquote profit slips as crypto revenue falls by two thirds

Swissquote Group, Switzerland’s provider of online trading services, reported that its H1 revenues dropped by nearly a quarter from a year ago as clients’ interest in crypto trading stagnated.

Digital Assets granted approval to operate business in Cayman Islands, one of the longest-established crypto platforms, has obtained a new registration in the Cayman Islands under the Virtual Asset Services Providers Act.

Executive Moves

United Fintech hires Mitch Vine and Danny Finnerty to expand US footprint

“United Fintech’s expansion in the US is pivotal to our mission of helping financial institutions digitize and gain access to best in class capital markets focused technology.”

Digital Assets

Ankr backed by Binance Labs after several initiatives in support of BNB Chain

Ankr has made a series of upgrades to the BNB Chain, including Erigon, the Archive Node, and the latest BNB Application Sidechain (BAS) scalability solution.

Retail FX

Financial Commission terminates membership of LordFX

The Financial Commission, an independent self-regulatory compliance specialist for the financial services industry, has expelled forex brokerage LordFX from its membership, according to a FinaCom statement.

Industry News

Match-Prime Liquidity sponsors Cypriot football club Omonoia FC

“We feel privileged to support Omonoia as it’s one of the largest teams in Cyprus, fandom size-wise, and we know it has a special connection with its supporters.”

Institutional FX

XTB’s X Open Hub adds 30 cryptos to white label offering for brokers

Its solutions include deep institutional liquidity on more than 5,000 global instruments, such as indices, shares, forex, cryptocurrencies, commodities, and ETFs, and a white label platform that can be fully customized and branded for each brokerage.