The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Colony Raises $18.5 Million To Fuel Next-Generation Applications in the Avalanche Ecosystem

by ChainWire
November 30, 2021
in Industry Announcements

November 30, 2021 – Paris, France


Colony, a community-driven accelerator evolving into a decentralized autonomous organization that’s aiming to generate rapid growth in the Avalanche ecosystem, announced it has raised $18.5 million in seed funding.

The round was led by the Avalanche Foundation and saw participation from Shima Capital, Hashkey, GBV Capital and Bixin Ventures. Members of the Avalanche community also participated in the round.

Colony’s mission is to deploy capital within the Avalanche ecosystem to fund the most promising early-stage projects, provide liquidity for DeFi protocols, maintain an index on top of Avalanche projects and validate networks through stacking capabilities.

Through its concept of ecosystem farming, Colony will enable the community to invest in the most promising projects at the ground level development stage, creating opportunities that were previously only available to VCs and angel investors.

Colony’s open governance mechanism ensures capital is allocated across the Avalanche ecosystem for the sole benefit of ecosystem projects and its community. Value generated by Colony’s investments will be routed back into the community via airdrops, a buyback mechanism and staking rewards.

Under its validator program, 10% of Colony’s capital will be deployed in AVAX to be staked – with Colony also contributing to subnets validation if allowed. Another 10% will be deployed into the top 10 projects built on Avalanche ranked by market cap, with distribution rebalanced quarterly.

Projects ranked within the index will be determined by community vote. 50% of Colony’s capital will be deployed to support the best teams and projects building on Avalanche, to finance their efficient development and growth. The final 30% of Colony’s capital will be deployed via liquidity protocols built on Avalanche.

Elie Le Rest, CEO of Colony, said,

“We are delighted to announce that we’ve established close ties with the Avalanche Foundation itself. We’ll be sharing deal flow to create a more fertile ground for projects building on Avalanche – the fastest, highly customizable smart contracts platform in the blockchain industry.”

Colony’s native token CLY is a unique hybrid token that’s used for both DAO governance and liquid exposure to Colony’s value flow. CLY is a new kind of asset that features an airdrop mechanism to incentivize token holders as they build a diversified portfolio on Avalanche by staking their tokens.

Another unique feature is its buyback mechanism to create recurring pressure on CLY and redistribute bought CLY to active community members. CLY both empowers and controls, enabling the community to align incentives across pillars and create a codified harmony between stakeholders, the protocol and its assets.

Nicolas Lemaitre, general manager of Ava Labs, said,

“It’s great to see Colony seeking to create a decentralized democratic financial ecosystem by giving the community access to early-stage projects in seed and private rounds. This is very much aligned with Avalanche’s core value – community first.”

Colony will launch in Q4 2021 with public token sales and shall continue empowering selected projects building on Avalanche with its first capital deployments. In the second half of 2022, Colony will move to implement a DAO structure with its own subnet on Avalanche to decentralize itself and build new incentive models for CLY token holders.

About Colony

Colony is a community-driven accelerator that aims to generate Avalanche ecosystem growth by empowering its community to invest in early-stage projects. Powered by a first-of-its-kind funding mechanism, Colony permeates traditional venture capital with a spirit of community through open governance, support and inclusion. Over time, Colony will implement an inclusive DAO structure to become truly decentralized.

Contact

Elie Le Rest, CEO of Colony

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.


Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

 
Submit a Press Release

Industry Announcements

  • Tyrion Set To Decentralize the $377 Billion Digital Advertising Industry
    September 25, 2023
  • Hydranet Launches Layer Three Dex – A Game Changer for Trustless Cross-Chain Trading
    September 25, 2023
  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
  • Meme Fans Eye El Hippo (HIPP) As Floki Inu (FLOKI) Price Dips
    September 19, 2023
  • Dexalot Unveils SimpleSwap and SimpleView Features for Enhanced User Experience
    September 19, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$26,269.04
$26,269.04
0.42%
Ethereum
$1,595.58
$1,595.58
0.42%
Cardano
$0.244582
$0.244582
0.09%
XRP
$0.499716
$0.499716
0.22%
Dogecoin
$0.060336
$0.060336
0.17%

Spotlight

  • Bitcoin in ‘Calm Before the Storm’ As Bull Market Narratives Fail: Analyst Nicholas Merten
    September 20, 2023
  • Ethereum ICO Participant Moves $9,960,000 Worth of ETH to Crypto Exchange Kraken: On-Chain Data
    September 20, 2023
  • Analyst Will Clemente Says Setup for Bitcoin (BTC) Becoming ‘Increasingly Favorable’ – Here’s Why
    September 20, 2023
  • Former Deutsche Bank Executive Faces 30 Years in Prison for Crypto Fraud: DOJ
    September 20, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl