TechFlow reports that the Aptos Foundation and Thala Labs have partnered to launch a $1 million fund called Thala Foundry, aimed at incentivizing the creation of "Aptos-native" DeFi protocols.
In a joint statement, the two organizations said the fund seeks to encourage developers to propose "unique strategies and use cases powered by the Move-powered L1 blockchain."
Thala Labs said the Thala Foundry fund will scale up to $5 million as protocols launch and grow, with an expectation of over five new DeFi protocols launching on Aptos.
"Thala Foundry will provide up to $250,000 per project, ensuring support for projects of various sizes and go-to-market strategies," the statement said. "While the focus is on helping teams build and launch their products from the ground up, Thala also looks forward to providing tailored support for projects that may have more advanced MVPs."
