The Dubai-based gamified incentivization layer protocol Kaskade Finance recently revealed the completion of its pre-seed funding round, which attracted over 40 investors.
More than 40 investors participated in the oversubscribed seed round, according to a statement released by Kaskade Finance on Tuesday. These investors included influencers like VirtualBacon, Brian D. Evans, CryptoJack, and Marshland, as well as investors Artemis Capital, Andromeda Capital, Hercules Ventures, 369 Capital, and Crypto Oasis Ventures.
Chief Executive Officer and Co-Founder of Kaskade Finance Nathan Lenga will keep assembling an elite team to ensure Kaskade Finance is the top liquidity incentivization layer for all of DeFi. Nathan Lenga tabled the MVP to go live in August.
As mentioned, Redacted Finance is the first protocol on Kaskade’s shortlist that has requested cooperation in order to use its incentive mechanism to bootstrap volume and liquidity.
“We founded Kaskade to flip the incentive model on its head; rather than focusing on bootstrapping liquidity first, we strive to drive additional volume in the ecosystem,
“Our team fundamentally believes that the industry must incentivize volume, which represents demand, to create sustainable flywheels, given demand inevitably results in supply, liquidity,” said Lenga.
As per the statement, the initial campaign in association with Redacted Finance is scheduled to commence in the middle of March, offering a maximum of USD 30,000 in $BTRFLY rewards to all those who take part.
For DeFi protocols and networks, Kaskade Finance is the cross-chain liquidity bootstrapping layer that uses volume-focused incentives to raise more fees to liquidity pools.
With the idea that liquidity will eventually increase, the company is developing a new mechanism to incentivize liquidity by placing an emphasis on volume first.
By involving their users in campaigns via the Kaskade Finance app, protocols with live tokens can boost trading volume and, consequently, liquidity.
Users can claim these rewards at the end of the week, and these protocols will offer rewards in any token to encourage more frequent trading.
