Kaskade finance, a Dubai, UAE-based provider of a gamified incentivization layer protocol, raised an undisclosed amount in Pre-Seed funding.
The round saw participation from over 40 investors including 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.
The company intends to use the funds to expand operations and development efforts.
Led by CEO Nathan Lenga, Kaskade Finance is a cross-chain liquidity bootstrapping layer for DeFi protocols and networks that leverage volume focused incentives to increase more fees to liquidity pools. It is creating a new mechanism to incentivize liquidity, first emphasizing on volume, with the understanding that liquidity will subsequently increase.
Commenting on the news, Nathan Lenga said: “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.”
FinSMEs
12/03/2024