DUBAI, UAE, Mar 12, 2024 - (ACN Newswire) - Kaskade finance, a gamified incentivization layer protocol, just announced the closure of its pre-seed funding round from over 40 investors.
Nathan Lenga, CEO of Kaskade, tabled the MVP to go live in August, and to continue to build a world-class team that will make certain Kaskade Finance is the premier liquidity incentivization layer for all of DeFi.
The oversubscribed seed round had participation from over 40 investors, some of which include Marshland, NxGen.xyz, Artemis Capital, Andromeda Capital, Hercules Ventures, 369 Capital, Crypto Oasis Ventures, as well as influencers, including VirtualBacon, Brian D Evans, CryptoJack and more.
Kaskade already has a shortlist of protocols asking to collaborate in order to leverage its incentivization mechanism to bootstrap volume and liquidity; the first of which being Redacted Finance.
“We founded Kaskade to flip the incentive model on its head; rather than focusing on bootstrapping liquidity first, we strive to drive additional volume in the ecosystem. Our team fundamentally believes that the industry must incentivize volume, which represents demand, to create sustainable flywheels, given demand inevitably results in supply, liquidity”, - said Nathan Lenga, CEO and co-founder of Kaskade Finance.
The first campaign will launch mid-March, in collaboration with Redacted Finance, with up to $30,000 USD in $BTRFLY rewards available for all participants. Not only is there a large rewards pool, but also a gas rebates program that frequent traders can avail themselves of.
About Kaskade Finance
Kaskade Finance is the cross-chain liquidity bootstrapping layer for DeFi protocols and networks that leverage volume focused incentives to increase more fees to liquidity pools. Kaskade is creating a new mechanism to incentivize liquidity, first emphasizing on volume, with the understanding that liquidity will subsequently increase.
Protocols with live tokens can create campaigns through the Kaskade application, engaging their users to increase trading volume and accordingly liquidity. These protocols will put up rewards in any token to incentivize their users to trade more frequently, with users being able to claim these rewards at the end of the week.
Keep up to date on all updates for Kaskade Finance by following their socials.
Media contacts:
Nathan Lenga
gm@kaskade.finance
Topic: Press release summary
Source: Kaskade
Sectors: FinTech
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