NEAR Foundation's independent entity Nuffle Labs rebrands to MoreMarkets, pivots to creating an integrated liquidity marketplace

Nuffle Labs, an independent entity borne from the NEAR Foundation, has rebranded to MoreMarkets and has pivoted to creating an integrated liquidity marketplace.

MoreMarkets aims to create yield opportunities from XRP, DOGE and other non-EVM tokens on different decentralized exchanges ( DEXs ) without having to leave their original network. The firm is developing a DeFi stack mixing together deposit vaults, cross-chain messaging and yield aggregation to help these assets provide liquidity to DEXs and other active DeFi chains, according to a release shared with The Block.

"Instead of forcing assets to bridge across chains or be wrapped into fragmented liquidity pools, we enable native assets to stay native, while enabling access to DeFi directly," MoreMarkets Founder and CEO Altan Tutar told The Block. "Our integrated liquidity system allows XRP and other high-value assets to generate yield and be used as collateral, all without leaving their home networks. This shift from infrastructure to DeFi is about unlocking latent capital and creating a true free market for liquidity."

MoreMarkets plans to launch its mainnet beta on April 19, a company spokesperson told The Block.

The NEAR Foundation is a non-profit building out the NEAR ecosystem. MoreMarkets, initially named Nuffle Labs, aimed at building out NEAR's Data Availability Layer and the NEAR Fast Finality Layer, among other products. MoreMarkets raised $13 million in strategic funding in June 2024.