Wave Financial launches ADA Yield Fund

Wave Financial LLC, a SEC-registered digital asset investment management company, has launched the Wave ADA Yield Fund, Invezz learned from a press release. It aims to provide millions in liquidity to support new DeFi platforms in the Cardano (ADA/USD) ecosystem, beginning with $100 million.

On a mission to support promising entrepreneurs

The new fund reflects Wave's mission to foster more significant innovation in the overall crypto ecosystem and support promising entrepreneurs within the crypto space beyond the early stage. David Siemer, CEO of Wave Financial commented:

Charles Hoskinson also commented on the announcement:

DeFi dApps are the most popular in crypto

DeFi dApps have always been among the most popular in the space, attracting users and bringing new applications on-chain. DEXs are typically set up with two pools of assets representing the trading pairs. Counterparties trade against them when they want to transact on either side of the pair.

The purpose of the ADA Yield Fund is to provide liquidity to these pools as a way of supporting DEXs on Cardano. Similar support will be available to DeFi lenders to augment liquidity, thereby alleviating lending.

Global blockchain company and VC fund EMURGO is among Cardano’s early supporters. Ken Kodama, its founder and CEO said: