Cardano ($ADA) Powered IDO Launchpad Secures Funding From VC Firm Vendetta Capital

Recently, blockchain and crypto focused venture capital (VC) firm Vendetta Capital announced that it had invested in Vent Finance, which is developing Ventup, a Cardano-powered Initial DEX Offering (IDO) platform called Ventup.

An IDO is what happens when “a new project launches a new token through a decentralised liquidity exchange.”

Venup is launching on Ethereum in Q2 2021 and intends to migrate to Cardano in Q3 2021 (since it depends on Cardano’s Alonzo protocol upgrade going live on the mainnet).

Venup Finance says that Ventup is being built on the Cardano blockchain because Cardano offers “fast transactions, scalable and sustainable security built-in, interoperability, engaged community, and most decentralised blockchain.”

According to Vendetta’s press release, Vent is launching a minimal viable product (MVP) version of Ventup first on Polygon and that it is planning to build a Polygon-Cardano bridge after smart contract support has gone live on the Cardano mainnet, which means that hopefully Ventup 2.0 will be ready by Q4 2021.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Source: Read Full Article