Ahead of ParallelChain’s mainnet launch, GEM Digital Limited, a digital asset investment firm, has invested $50 million in the company. The investment is aimed at the ParallelChain Layer-1 protocol development project.
The blockchain industry continues to grow in strength as more funds enter the industry. The DeFi community is a part of the blockchain industry that pulls the most weight.
ParallelChain is an all-in-one decentralized blockchain that handles business and enterprise level use cases. ParallelChain consists of two scalable layer 1 platforms, the public mainnet and the private networks. ParallelChain recently launched its native token XPLL as an ERC-20 token based on Ethereum.
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 appear in the fourth quarter of 2022 with the launch of the mainnet.
ParallelChain committed to bridging the gap
ParallelChain CEO Ian Huang said that ParallelChain’s Mainnet is the solution to the industry’s demand for privacy, compliance and scalability in public blockchain applications. ParallelChain aims to close the gap between DeFi and CeFi with its open source mainnet.
ParallelChain Enterprise, the private network, would allow privacy for users when transacting through the proof-of-immunity mechanism. Both ParallelChain platforms seek to provide confidentiality and validated transactions.
GEM’s $50 million investment would enable market expansion, research and development, and decentralized project funding.
Maple Finance Launches $300 Million Fund for BTC Mining Companies
Maple Finance has announced a $300 million investment in secured debt financing to top-tier digital asset infrastructure and Bitcoin mining companies. According to the announcement on Maple’s website, the fool fund was launched in partnership 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 company that offers uncollateralized loans for borrowers. Maple Finance also offers on-chain fixed income opportunities for lenders.
Maple Finance, as a decentralized credit marketplace, aims to improve the capital efficiency of lending markets by making more capital available for lending.
Maple Finance demonstrated its vision to improve capital efficiency through its $300 million investment fund. The announcement came through the company official twitter handle on September 20.
Funding is open to crypto mining companies in North America, Canada, and Australia that meet treasury management standards and energy strategies. According to Maple’s tweet, all loans would be fully secured by digital and real assets. Loans last between 12 and 18 months with interest rates of 15-20%.
The Icebreaker DeFi investment committee would monitor the issuance of the fund to ensure compliance. Before issuing loans, the committee would assess the financial and operational positions of the borrower.
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