The EOS Network Foundation (ENF) share the recent news from NoahArk Tech Group (NoahArk.io) with the EOS community. EOS Network Ventures (ENV) has made a strategic investment of $2.4M into NoahArk’s DeFi infrastructure. This news will play an important role in unlocking new potentials for growth, innovation and collaboration in DeFi on EOS and within the broader Web3 ecosystem.
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By building on the strengths of both Defibox.io and NoahArk Tech Group, the team hopes to foster an expansive ecosystem of DeFi tools on EOS. As part of this strategy, the team plans to collaborate with two leading DeFi teams to develop an interoperable liquidity aggregation protocol. This will improve transaction flexibility, while creating a more expansive liquidity pool that supports a wide array of assets.
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Through this investment, the ENV aims to support NoahArk Tech Group as they create new avenues for collaboration and development that benefit the entire EOS DeFi ecosystem. At the same time, this investment will drive value back to the network by creating new opportunities for DeFi to thrive on EOS, while increasing users and liquidity on the network.
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Yves La Rose, Director of ENV and Founder & CEO of the ENF expressed excitement in the news, stating “Through our investment in NoahArk Tech Group, we’re not just funding a company, we’re investing in the future of DeFi on the EOS Network. We’re confident in their ability to innovate and believe this partnership will lead to significant advancements in the EOS ecosystem.”
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NoahArk Tech Group CEO, Eason, noted the impact this investment would have on their efforts to grow DeFi adoption on EOS. “This financial backing will significantly enhance market opportunities for both Defibox.io and Noahark.io. As we anticipate the next bull market, the combined efforts of our DeFi teams will focus on developing an interoperable liquidity aggregation protocol. These initiatives are aimed at enhancing transaction convenience and flexibility for our users and expanding the range of assets supported on EOS and EOS EVM.”
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About NoahArk Tech Group
NoahArk Tech Group is an emerging DeFi project on the EOS EVM chain, focusing on providing highly secure and reliable decentralized trading services. Through innovative lock-up mechanisms and liquidity solutions, it creates a seamless financial market experience for users. It is expected to launch a series of trading-focused products such as perpetual contracts and perpetual options early next year.
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