Jacquelyn Melinek

<div id="highlights-block_61dd97b079aa2" class="highlights">
 <ul>
 <li>The fund is now up 25% from $160 million in November</li>
 <li>“Since we launched in mid-November we have received tons of applications from the community entrepreneurs and founders who want to build projects on the network,” Lu said</li>
 </ul>
 
</div>



An extra $40 million was added to the Oasis Ecosystem Fund, just two months after it was launched, to help build decentralized applications for DeFi, NFTs, the metaverse and more on the Oasis network, according to an announcement Tuesday.&nbsp;



The fund is now $200 million, up 25% from <a href="https://cms.blockworks.co/oasis-foundation-launches-160m-fund-for-defi-nfts-metaverse-and-more/" target="_blank" rel="noreferrer noopener">$160 million</a> in November, after Binance Labs announced its participation in the fund, Linda Lu, head of ecosystem at Oasis said in an interview with Blockworks. 



The capital will be used to invest in the next wave of applications on the network and support ecosystem growth, Lu said. 



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png" alt="The Oasis ecosystem" class="wp-image-13775" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=1536 1536w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=343 343w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=348 348w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=292 292w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=50 50w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/2022-01-11-oasis-ecosystem-1024x768.png?w=1600 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>The Oasis Ecosystem Source; Oasis</figcaption></figure>



<a href="https://cms.blockworks.co/binance-labs-led-12m-investment-round-for-woo-network/" target="_blank" rel="noreferrer noopener">Binance Labs</a> is the venture capital and innovation incubation subsidiary of cryptocurrency exchange company Binance. It has invested in over <a href="https://labs.binance.com/" target="_blank" rel="noreferrer noopener">100 projects</a> across the blockchain ecosystem, according to its website. 



<div class="wp-block-image"><figure class="alignright size-medium"><img loading="lazy" decoding="async" width="300" height="300" src="https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg" alt="" class="wp-image-13777" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg?w=150 150w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg?w=257 257w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg?w=261 261w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg?w=219 219w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg?w=50 50w, https://blockworks-co.imgix.net/wp-content/uploads/2022/01/Linda-Lu-300x300.jpeg?w=320 320w" sizes="(max-width: 300px) 100vw, 300px" /><figcaption>Linda Lu</figcaption></figure></div>



Oasis Network is a layer-1, proof-of-stake, decentralized network designed to enable data privacy within DeFi, dApps, NFTs, DAOs and other Web3 applications. 



Other participants who previously invested in the fund include AME Cloud Ventures, Dragonfly Capital Partners, Draper Dragon, Electric Capital, FBG, Jump Capital, Hashed, Kenetic Capital, NGC Ventures, <a href="https://cms.blockworks.co/pantera-capital-ceo-terra-is-one-of-the-most-promising-coins-for-the-coming-year/" target="_blank" rel="noreferrer noopener">Pantera Capital</a> and Oasis Foundation.



“Since we launched in mid-November, we have received tons of applications from the community entrepreneurs and founders who want to build projects on the network,” Lu shared.&nbsp;



In recent weeks, Oasis partially funded YuzuSwap, the first decentralized exchange (DEX) built on its network, she said.&nbsp;



“From our perspective, we want to provide the best infrastructure for dApp developers and allow them to be successful,” Lu said. “We want to grow the ecosystem for the first half of the year and in the second half of [2022], build a community that will attract institutional investors to the DeFi space,” she added.



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