BlockBeats news: On October 24, Colony, a decentralized community platform, completed a $1 million seed round of financing, led by GBV Capital, Foresight Ventures and Avalanche Foundation. Avalaunch, Avatar, Yield Yak, NGC Ventures, Spark Digital Capital, MEXC Global, Synaps and ZBS Capital participated.
Colony is a community-driven fund that is evolving into a decentralized autonomous organization (DAO) that will fund early projects within the Avalanche ecosystem, provide liquidity for DeFi protocols, and validate networks through pledge capabilities. Profits from Colony's future investments will be returned to the community through airdrops, buybacks and pledged rewards.[Original Link]