Obex is our bet on backing builders innovating with Stablecoins. “Sky and USDS are some of the longest standing decentralized infrastructure in the world and have proven resilient at multi-billion-dollar scale over a long period of time. The opportunity now is to bring that stability and utility into new ecosystems where the next generation of users and builders are emerging. Obex is an important step in that direction, helping expand access to better money and funding the teams building the future of global finance.” - Bryan Pellegrino Building with Stablecoins? ... Apply to Obex and join the 1st Cohort.
Obex, a new #incubator for #stablecoins designed to support and finance teams building yield-generating stablecoins on the Sky Protocol, has launched out of San Francisco. 👉 Obex will access up to $2.5 billion of Sky authorized USDS stablecoins for deployment into select projects that graduate from the Obex incubator 👉 Obex has raised $37 million in a round led by Framework Ventures, LayerZero, and Sky 👉 Sky rebranded from MakerDAO last year is now considered the third largest stablecoin issuer 👉 Administered by Framework Ventures, a VC firm best known for their early moves in the DeFi space including The Graph, Chainlink, Immutable X, and Aave 👉Obex appears to be offering stablecoin founders what amounts to a hybrid between traditional early-stage venture funding and direct access to institutional scale liquidity “We believe smart money looks to USDS as the saving standard, Obex will play an important role in creating the rails of an upgraded, more efficient and transparent financial system and scaling Sky," Rune Christensen, Sky “Banks and credit funds have spent decades generating returns off-chain across asset-backed lending, trade finance, and private credit, Obex is designed to help founders bring those institutional yield primitives into composable, decentralized markets,” Parker Edwards Framework Ventures. “If you’re trying to do something capital-intensive within crypto that needs to be financed through stablecoins or tokenized assets, this is the program, the ambition is to supercharge Sky so it can compete with the “Apollos and Blackstones” of the world,” said Vance Spencer, co-founder of Framework Ventures. LayerZero Labs Tether.io Circle J.P. Morgan Citi BNY Goldman Sachs Bank of America Deutsche Bank Barclays UBS Coinbase The Graph Chainlink Labs Immutable Aave Labs Solana Janus Henderson Investors Forbes https://lnkd.in/dQ8WqRjP
