- NoahArk is driving a broad spectrum of innovative efforts in the DeFi sector
- The group is developing an interoperable liquidity aggregation protocol
NoahArk Tech Group announced the receipt of a strategic $2.4 million investment from EOS Network Ventures (ENV), Bankless Times learned from an exclusive press release. This investment not only injects capital but also signals the commencement of an innovative and collaborative era for EOS DeFi.
The investment by ENV into NoahArk Tech Group is not just a financial endorsement but a strategic collaboration aimed at fostering innovation within the EOS ecosystem. This partnership is expected to unlock new potentials and catalyze growth in the DeFi space.
NoahArk Tech Group and Goals
NoahArk Tech Group’s strategy includes leveraging the strengths of both Defibox.io, a prominent DeFi platform on EOS Native, and Noahark.io, a rising DeFi project on EOS EVM, to drive a broad spectrum of innovative efforts in the DeFi sector. NoahArk Tech Group CEO, Eason, expressed optimism about the recent strategic developments:
In this new phase, the EOS EVM will significantly enhance our operational capabilities, making it easier for established products and developers to participate and enabling the fluid movement of various assets through cross-chain bridges. The main challenge in this transition is fostering a sense of trust and familiarity among both EVM product users and EOS enthusiasts.
Innovative Collaborations and Technical Advancements
In its quest to advance the DeFi sector, NoahArk Tech Group plans to collaborate with two leading DeFi teams to develop an interoperable liquidity aggregation protocol. This groundbreaking protocol aims to enhance transaction flexibility and create a more expansive liquidity pool, supporting a wider array of assets.
ENV’s Strategic Vision
ENV’s investment in NoahArk Tech Group is a clear testament to its belief in the transformative potential of decentralized exchanges within the EOS ecosystem. This move is anticipated to open new avenues for collaboration and development, benefiting the entire EOS ecosystem.
Yves La Rose, Director of EOS Network Ventures (ENV), commented:
Through our investment in NoahArk Tech Group, we’re not just funding a company, we’re investing in the future of DeFi on the EOS Network. We see NoahArk Tech Group as a key player in enhancing decentralized exchanges and our strategic vision is to support the creation of more interconnected and user-friendly DeFi services, benefiting the entire sector.
