GEM Digital Invests $50 Million In ParallelChain Lab’s Mainnet Development￼
Ahead of ParallelChain mainnet launch, GEM Digital Limited, a digital asset investment, has reportedly invested $50 million into the firm. The investment is targeted at the ParallelChain Lab Layer-1 protocol development project.
The blockchain industry keeps growing in strength as more funds enter the industry. The DeFi community is one part of the blockchain industry pulling the most weight.
ParallelChain is an all-in-one decentralized blockchain that handles enterprise-grade and retail use cases. ParallelChain consists of two scalable layer-1 platforms, the Public mainnet, and Private Networks. ParallelChain recently launched its native token XPLL as an Ethereum-based ERC-20 token.
The soon-to-be-launched mainnet is a layer-1 smart contract platform with a proof-of-stake consensus mechanism designed to power an accountable and democratic ecosystem. The XPLL token will also be listed in the fourth Quarter of 2022 with the mainnet launch.
ParallelChain Committed To Bridge The Gap
ParallelChain’s CEO, Ian Huang, said ParallelChain’s Mainnet is the solution to the industry’s demand for privacy, compliance, and scalability across public blockchain applications. ParallelChain aims to close the gap between DeFi and CeFi with its open-source mainnet.
The ParallelChain Enterprise, the Private network, would enable user privacy when performing transactions using the proof-of-immunity mechanism. ParallelChain’s two platforms seek to deliver confidentiality and validated transactions.
GEM’s $50 million investment would enable market expansion, research and development, and funding of decentralized projects.
Maple Finance Launches $300 Million Fund For BTC Mining Firms
Maple Finance has announced a $300 million investment in secure debt financing to digital assets infrastructure companies and blue-chip Bitcoin mining firms. According to the announcement on the Maple website, the fund fool was launched in collaboration with Icebreaker Finance.
The funding was supported by a team with structured finance and capital markets, leading Australian blockchain and BTC mining investors.
Maple Finance is an institutional crypto lending firm that provides under-collateralized lending for borrowers. Maple Finance also provides on-chain fixed income opportunities for lenders.
Maple Finance, as a decentralized credit market, aims to improve the capital efficiency of lending markets by making more capital available to be loaned.
Maple Finance demonstrated its vision of improving capital efficiency through its $300 million investment fund. The announcement came through the firm’s official Twitter handle on September 20.
The funding is open to crypto mining firms in North America, Canada, and Australia that meet the standards of treasury management and power strategies. According to Maple’s tweet, all loans would be fully collateralized by real-world and digital assets. The loans run between 12 to 18 months with interest rates of 15-20%.
Icebreaker DeFi investment committee would supervise the fund issuance to ensure compliance. Before issuing loans, the committee would evaluate the borrower’s financial and operational positions.