Cake DeFi Ventures to invest in early-stage crypto startups to enhance its web3 offerings.
Singapore-based decentralized finance services firm Cake DeFi announced the launch of a $100 million venture arm dedicated to serving as accelerators for Web3, gaming, nonfungible tokens and other crypto initiatives.
Cake DeFi’s primary suite of services includes liquidity mining, staking and lending of cryptocurrencies — aimed at generating high returns from existing crypto holdings. In addition to receiving CDV’s funding, the announcement read:
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