DeFi lending platform Liquidity Protocol has secured $6 million in Series A funding to expand its on-chain borrowing services, underscoring the continued growth of cryptocurrency loans.
The funding round was led by Pantera Capital, a crypto-focused venture capital firm, with additional contributions from Nima Capital, Alameda Research, Greenfield.one and IOSG, the company announced Monday. Angel investors including Meltem Demirors, David Hoffman and Calvin Liu also contributed to the raise.
Liquity has raised $6M in Series A funding led by @PanteraCapital.
Read the full announcement here: https://t.co/OhqrKT8N9x
— Liquity (@LiquityProtocol) March 29, 2021
Robert Lauko, Liquidity Protocol’s CEO, said the new funding round “will allow us to continue pursuing Liquity’s mission of improving access to on-chain borrowing, removing interest rates, and minimizing governance in DeFi.”
Incorporated in Zug, Switzerland, Liquidity provides interest-free borrowing on collateralized loans backed by Ethereum (ETH). Loans are paid in LUSD, a dollar-pegged stablecoin, and require a minimum collateral ratio of 110%.
The company says its protocol will go live on theTitle: Pantera Capital backs Liquidity Protocol’s $6M Series A funding round
Sourced From: cointelegraph.com/news/pantera-capital-backs-liquidity-protocol-s-6m-series-a-funding-round
Published Date: Mon, 29 Mar 2021 22:12:34 +0100
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