TaoFi, a brand new DeFi mission within the Bittensor ecosystem, has raised a strategic spherical of funding, led by DCG, with additional participation from Pantera Capital, Taostats, Lyrik Ventures, and different strategic companions.
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This funding will enable TaoFi to kind foundational AI-powered DeFi primitives on the Bittensor EVM, including the indispensable TAO-backed stablecoin, a decentralized alternate, and a liquid staked version of TAO.
“TaoFi is pioneering a well-known next step within the evolution of Bittensor, by integrating foundational DeFi infrastructure that unlocks new monetary utilities for the deAI community.”
Anna Bertha, Funding Lead at DCG
Anna persisted, “We gaze TaoFi as a catalyst for pushing the boundaries of what’s that it is seemingly you’ll well well well also imagine on what we gaze as the leading hub for innovation in decentralized AI. The DCG group is overjoyed to make stronger their efforts in bringing the next wave of DeFi tools and liquidity choices to the Bittensor ecosystem.”
About TaoFi’s Upcoming Products
TAO USD: An overcollateralized stablecoin to be deployed on the Bittensor EVM, backed by a basket of tangible-world sources and TAO.
TAO Swap: A decentralized alternate (DEX) on the Bittensor EVM, providing decentralized and permissionless buying and selling for TAO and different sources on the community.
stTAO: A liquid staked version of TAO on Bittensor EVM.
TaoFi’s products objective to merge Bittensor’s AI capabilities with DeFi, advancing Bittensor’s mission of increasing machine intelligence owned by every person.
“We’re furious to suppose this strategic elevate with companions across the Bittensor ecosystem,” mentioned Sam Forman, Founding father of TaoFi. “Their make stronger underscores the seemingly of TaoFi to raise well-known innovation to Bittensor. We glance forward to the utilization of these funds to velocity up the design of well-known DeFi infrastructure and elevate new functionality to Bittensor.”
