Crypto.com co-founder launches Particle B, a DeFi project incubator
The co-founder of the Crypto.com platform (CRO), Gary Or, launches Particle B, an incubator for decentralised finance (DeFi) projects. This startup accelerator will focus on projects built on Crypto.Com Chain and Ethereum.
Gary Or, co-founder and CTO of Crypto.com, has just founded Particle B. This startup accelerator will help projects based on Crypto.com Chain and Ethereum (ETH) to grow.
This initiative follows the explosion of the decentralised finance sector, on which Crypto.com expects to be betting in 2021. Over the past 12 months, DeFi has grown at a staggering pace with Bitcoin Formula review, with its total locked-in value (TVL) approaching $15 billion this month. As a reminder, DeFi’s TVL in 2019 for the same period was $700 million.
In addition, the Crypto.com blockchain is preparing to deploy its mainnet, which, according to initial results, is capable of processing several thousand transactions per second with a confirmation time of a few seconds.
With such capabilities, Particle B will therefore support DeFi application developers wishing to deploy their products on Crypto.com Chain. As of 2021, Particle B plans to launch at least 1 DeFi project per quarter.
Although its primary interest is the development of decentralised finance, Particle B even plans in the future to incubate startups working on projects related to Bitcoin (BTC):
“Gary is one of the brightest minds in crypto, and his contributions to Crypto.com are unprecedented. We are extremely excited about his decision to found Particle B, which will help energise the Crypto.com Chain, vvv ecosystem,” added Kris Marszalek, CEO of Crypto.com.
The support of Particle B will benefit the entire Crypto.com ecosystem and its users, who will discover new DeFi products at a steady pace
It should be noted that Crypto.com has already taken several steps towards DeFi, notably with the introduction of Supercharger, a platform for growing DeFi tokens by providing liquidity in a pool.
With the deployment of the mainnet of its blockchain getting closer and the arrival of DeFi applications, holding CRO tokens on Crypto.com offers more and more advantages.
In particular, the platform has its famous crypto-card, which allows you to obtain 1 to 8% cashback on all purchases. This percentage evolves according to the number of CRO tokens that the user stakes on the platform.
Depending on the model, other benefits are added to the cashback, such as a full refund on Spotify, Netfix or Amazon Prime subscriptions.
In addition, under certain conditions and by using the link below, each user can receive a $25 bonus by ordering one of the crypto-cards from the Metal range.
For example, to receive the Ruby Steel – the first card in the Metal range – it is necessary to deposit 2,500 CRO tokens on the platform. At the time of writing this article, this corresponds to 118 €. Using this card entitles you to a 2% cashback on all purchases, as well as a refund on your Spotify subscription.