Venom is an emerging layer zero blockchain ecosystem currently operating in testnet mode. Based in the UAE, Venom has secured official licensing and regulatory approval to issue utility tokens and provide decentralized financial services in Abu Dhabi.
This regulatory clearance sets Venom apart from many crypto projects operating in legal gray areas. The licensure enables Venom to bridge central bank digital currencies into decentralized finance in the Middle East and North Africa region.
To fund ecosystem growth, Venom's venture arm launched a $1 billion Web3 investment fund. The impressive capital raise highlights the project's credibility and connections. However, some critics want more transparency on early investor discounts to fully judge tokenomics.
Overall, Venom scores points for regulatory approval, capital funding, testnet accessibility, and technological ambition. The selective regulatory stance offers legitimacy while maintaining decentralization. However, anonymity of the core team seeded some skepticism. Show Less
