- Permissionless venture DAO, New Order raises $4 million for innovative DeFi projects.
- New Order will use the fund to launch a community-led venture DAO incubator for DeFi projects.
- The DAO will launch in early December and other incubated projects will be announced in the coming days.
New Order says it has raised a whopping $4 million to launch a community-driven DAO incubator for innovative DeFi projects. As a DAO incubator venture, New Order will launch projects on DeFi, which will be focused on machine intelligence, multi-chain, and expanding to new digital assets.
With plans to launch more than 30 projects per year, New Order is ready to unveil some DAO projects early in December. Upon that, many incubated projects will be announced in the coming months. In the next two months, three projects developed with well-known partners which are already incubated and scheduled will be launched.
New Order is geared to tap into the global community of developers, founders, community builders, and quants, for the funds and contacts it requires to back innovative DeFi projects. Seeing that DeFi founders struggle to start a community and liquidity that will sustain their projects, New Order asserts that it will create these types of resources through a broad partner network and community-led incubation.
This means that the DAO will assess the projects no matter where they come from and then ascertain the best way to distribute resources. Not only that, New Order intends to include a venture platform that will cater to L1 networks and DeFi protocols.
The ingenious feature of New Order’s DAO is that it has a dApp marketplace, where users will be able to uncover the latest products. Due to this, it will generate revenue in stablecoins, BTC, ETH, in order to develop a diverse and risk-free treasury for the DAO.
Eden Dhaliwal, Co-Founder of New Order says,
DeFi is entering a new phase and most investors and alliances which help early teams are not getting their hands dirty enough at the ground level – this means building alongside founders. With our DAO structure, we are really committing to gathering the best DeFi builders while funding and building out in the open with the community from day 0.
Yenwen Feng, Founder of Perpetual Protocol says that as a DAO, New Order prioritizes building over investing, sweat capital over venture capital, and permissionless incubation community over permissioned investment groups.
James Wo, CEO of Digital Finance Group adds that by developing revenue-generating DeFi marketplace alongside its venture portfolio, New Order will build one of the largest and most diversified DAO treasuries.
Additionally, Chief Investment Officer of LedgerPrime, Shiliang Tang, stated that as a firm, we see how coordination through DAOs is changing collaboration among early-stage venture creators. Our involvement with New Order is with the plan of empowering builders to work through structures that are outside the traditional venture model.
Venture and angel investors who joined in the private fundraising round include Digital Finance Group, Outlier Ventures, LedgerPrime, Near Foundation, FalconX, Yenwen Feng (Founder of Perpetual Protocol), Mapleblock Capital, Moonwhale Ventures, Youbi Capital and others.