MEXC Pioneer partners with Proximity Labs, a leading research company focused on DeFi technology within the NEAR ecosystem.
Decentralized finance, or DeFi, has become an essential component of cryptocurrency markets and has firmly established itself in the blockchain industry. Today, people are looking for easier to use and more reliable DeFi platforms to get involved.
Focused on DeFi applications, Proximity Labs is dedicated to offering grants and building open-source software targeting the NEAR blockchain. It is backed by venture capitalists such as Andreessen Horowitz’s A16Z, Pantera Capital, Electric Capital, Dragonfly Capital, Coinbase Ventures, Blockchain.com, and Baidu Ventures.
By building under the NEAR protocol, a scalable blockchain. Proximity Labs supports DeFi projects such as Curve, Sushi, Dodo, Kyber and many more to come. There are now more than 1.3 million active accounts on the network, according to the statement. Total value locked (TVL) exceeded $860 million, including $700 million on Aurora and $160 million on native NEAR assets. This is alongside Ethereum network assets such as Ether, USDC, and Tether through its Rainbow Bridge connection.
In October 2021, Proximity Labs announced the creation of a $350 million grant vehicle. The grant vehicle was to help build decentralized finance applications on the NEAR blockchain. With support from MEXC Pioneer, Proximity Labs is building its capacity to connect and help more people in DeFi scenarios.
Katherine Deng, Vice President of MEXC Global and Founder of MEXC Pioneer, commented, “Proximity Labs is a technically focused team and provides people with a cutting-edge DeFi experience. I have always been impressed by their level of expertise. The team is also an important contributor to the NEAR ecosystem, which is also one of our strategic partners. We are happy to work closely with great talents like the team.
About MEXC Pioneer
MEXC Pioneer is a platform launched by MEXC Global and designed to give new ventures, innovators and entrepreneurs the tools to realize their dreams. To achieve this, MEXC Pioneer launched a $100 million growth fund to support blockchain technology and infrastructure projects.
Having supported over 100 new projects, MEXC Pioneer has a strong business record with leading project partnerships within ecosystems. These include Solana, Polygon, Avalanche, and Algorand in their early days. Going forward, the team will work closely with Proximity Labs and other partners to create greater value in crypto.
MEXC Pioneer is a business incubation accelerator focusing on cutting-edge blockchain and cryptocurrency projects. Launched by MEXC Global, a leading digital asset exchange, the platform aims to be a trusted partner providing strategic business support and the tools to help new ventures, innovators and entrepreneurs turn their dreams into reality.
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