Taofi, a brand new Defi mission within the Bittensor -Ecosystem, has elevated a strategic financing spherical, led by DCG, with further participation of Pantera Capital, Taostats, Lyrik Ventures and different strategic companions.
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Taofi will allow Taofi to construct basic AI-driven Defi-Primitives on the Bittensor EVM, together with the primary Tao-supported Stablecoin, a decentralized alternate and a liquid set model of Tao.
“Taofi pioneers a crucial subsequent step within the evolution of bittensor, by integrating the combination of basic Defi infrastructure that unlocks new monetary utilities for the dai community.”
Anna Bertha, funding chief at DCG
Anna continued: “We see Taofi as a catalyst to push the boundaries of what’s potential on what we see because the main hub for innovation in decentralized AI. The DCG workforce is delighted to help their efforts in bringing the following Gulf of Defi instruments and liquidity options for the Bittensor -Ecosystem. “
Concerning the coming merchandise from Taofi
TAO USD: A overcollateral stablecoin that should be used on the Bittensor EVM, supported by a basket with Actual-World property and TAO.
Tao Swap: A Decentralized Trade (DEX) on the Bittensor EVM, which affords decentralized and permissionless commerce for Tao and different property on the community.
Sttao: A liquid -built model of Tao on Bittensor EVM.
Taofi’s merchandise are meant to merge the AI potentialities of Bittensor with Defi, inflicting Bittensor’s mission to create machine -intelligence that’s owned by everybody.
“We’re happy to announce this strategic enhance with companions within the Bittensor ecosystem,” stated Sam Forman, founding father of Taofi. “Their help underlines the potential for Taofi to deliver Bittensor significant innovation. We sit up for utilizing these funds to hurry up the event of the crucial Defi infrastructure and convey new performance to Bittensor. “