Near Foundation’s Nuffle Labs with New Focus on Integrated Liquidity Marketplace
Nuffle Labs, incubated by Near Foundation, is taking a new strategic direction. The team will focus entirely on developing an integrated liquidity marketplace. Nuffle Labs will be entirely independent in this endeavor and will not act as a support unit for external Web3 projects as previously.
Near Foundation announced the plans in its blog and announced MoreMarkets as a partner for Nuffle Labs. MoreMarkets is a DeFi project specializing in liquidity and DeFi solutions. The collaboration aims to provide DeFi users with broader access to liquidity pools and corresponding trading and staking options. Due to Nuffle Labs’ independence, it can make flexible and independent decisions in product development and go-to-market strategies.
The liquidity marketplace of Nuffle Labs also relies in part on the decentralization of the Near Protocol. This is designed to allow users to operate independently of third-party institutions and freely manage their digital assets. MoreMarkets will bring the technical know-how and the required infrastructure to the partnership. In their blog post, Near Foundation and MoreMarkets also state that they are combining their experience in DeFi, technology, and business strategy.
By focusing on the liquidity marketplace, Nuffle Labs will contribute to the competitiveness of Near Protocol. Near Foundation iterates that this endeavour will not reduce its engagement with external projects. The goals and objectives for Near Protocol and Nuffle Labs were set in a multi-stage process involving stakeholders.
With the new strategy of Nuffle Labs, Near Foundation emphasizes its ecosystem development vision and its desire to focus more on core products. The cooperation with MoreMarkets underscores that the project should also be internationally successful. Near Foundation wants to use this step to improve market access and seems convinced that the liquidity marketplace will significantly increase Near Protocol’s appeal to DeFi users.
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