DFG Contributes 150,000 $DOT to the Interlay Crowdloan

With the second batch of Polkadot Parachain Auctions already underway, DFG has decided to deploy its held $DOT as a way to fuel a member of its Polkadot Ecosystem Fund’s endeavor to conquer one of the six slots available in this parachain auctions’ batch. In the recently closed batch #1 of the auctions, Acala and Astar, which DFG has invested in and supported during their crowdloans, have successfully won the first and third slots respectively.

By allocating 150,000 $DOT to the Interlay crowdloans, DFG reaffirms its commitment to support as many Polkadot partners as possible in order to achieve a parachain slot and continue working towards making blockchain and Web3 a fully adopted technological advancement.

Interlay aims to bring BTC to DeFi, in contrast with those working on building DeFi on Bitcoin. Its mission is to create a 1:1 Bitcoin-backed asset, fully collateralized, interoperable, and censorship-resistant, starting with Kusama and Polkadot — it’s home-base — and soon spreading to all other major DeFi networks.

Alexei Zamyatin, Interlay Co-Founder and CEO, shared his thoughts on achieving another milestone by winning a slot in the Parachain Auctions and DFG’s support.

“We are extremely pleased to have the support of top investors from various ecosystems and geographic locations, who believe in our mission to bring Bitcoin to all major blockchains such as Polkadot, Ethereum and Cosmos. Together, we will accelerate the development and adoption of interBTC, Interlay’s flagship product, and allow people to invest, earn and pay with BTC on any blockchain in a truly trustless and decentralized way.”

James Wo, DFG Founder and CEO, also commented on the importance of Interlay’s solutions and why DFG is supporting them.

“We are firm believers in an interconnected space that brings expands the greatest benefits of every asset and provides a seamless solution to users that wish to make the best of products offered across different blockchains.

The fact that Interlay is creating a one of a kind product based on decentralized custodians, no censorship and reducing the odds of hacks by molding their products around the “not your keys, not your coins” idea, allows us to consider Interlay and the team lead by Alexei and Dominik as one of the most important in Polkadot.”

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