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Krew, a new Klaytn-based DeFi accelerator, has been developed to help DeFi projects on the EVM-compatible blockchain. This was followed by the introduction of KLAP (Klaytn Lending Application), a non-custodial lending market protocol, last week, which was Krew’s first project. The Klaytn-native lend/borrow protocol has subsequently garnered a following on the lending site.

Krew has secured $4 million in a pre-seed fundraising round led by Quantstamp and Ascentive Assets, followed by ROK Capital, Manifold, Krust, and Novis to expand the Klaytn DeFi ecosystem further.

Furthermore, Krew allows users to supply and redeem assets on the Klaytn blockchain, with early adopters receiving KLAP and KLAY token benefits.

KLAP fine-tunes all KLAY token emission, staking, and claiming settings with the introduction of Krew to maximize long-term value. In addition, the accelerator provides liquidity, marketing support, tokenomics guidance, go-to-market plans, and other critical components necessary for launch operations to other enterprises based on Klaytn.

While US authorities are delaying the approval of any ETFs that track bitcoin directly, ProShares is creating a fund (ticker BITI) that will allow investors to short Bitcoin futures. ProShares launched the first Bitcoin futures ETF in the United States in October last year.

The announcement shows that at least fifteen organizations, Galaxy Digital Holdings Ltd, Fidelity Investments Inc., and others, have submitted applications for a real Bitcoin ETF in the United States. Every spot Bitcoin ETF application has been denied by the US Securities and Exchange Commission (SEC) since 2013, citing concerns about criminal activities and market manipulation.

With all these elements in play, we believe now is the ideal time to give the Klaytn DeFi ecosystem an extra push.

Klaytn has over 2 million active users and is dedicated to fostering metaverse support and changing blockchain acceptance. By utilizing its skills to draw popular DeFi viewers to Klaytn, Krew hopes to speed the network’s worldwide expansion further.

Klaytn is supported by Kakao Corp, which is well known for KakaoTalk, Korea’s most popular messaging app. On the other hand, the accelerator wants to broaden the network’s usage outside of Asia.

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