Dubai, United Arab Emirates, 28 August 2024, Chainwire
Cypher Capital, a multi-strategy crypto funding agency, at present introduced its position in a $3.5 million seed funding spherical for Echelon, an modern decentralized lending protocol. The seed spherical attracted extra backing from strategic companions together with Amber Group, Laser Digital, Saison Capital, Selini Capital, Interop Ventures and Re7.
This funding demonstrates Cypher Capital's dedication to supporting superior options in decentralized finance (DeFi) and blockchain expertise. Echelon goals to enhance DeFi lending by bettering capital effectivity, integrating with different DeFi purposes, and offering modern income methods on Transfer-based blockchains akin to Motion and Aptos.
“Echelon has confirmed that their challenge is an actual driver of innovation within the DeFi house,” stated Harsh Agarwal, Head of Investments at Cypher Capital. stands out within the evolving DeFi panorama. We’re excited to help their efforts in growing excessive performing credit score markets.”
Echelon's protocol consists of superior options together with elevated borrowing energy on associated property, segregated funds for area of interest asset markets, and direct pockets integration for environment friendly yield methods. The platform is designed to focus on institutional grade markets whereas making certain reasonably priced rates of interest and modern yield choices.
“This funding will assist us construct extra credit score and threat administration merchandise, increase into new networks and supply international entry to dollar-denominated returns,” stated Glen Rose, co-founder of Echelon. “We're excited to construct fundamental primitives on high-performance motion-based chains.”
With the brand new funding, Echelon plans to reinforce its providing by growing treasury and actual asset (RWA)-backed methods, implementing cross-chain deposit vaults, and increasing its crew of full-stack and good contract engineers.
About Cypher Capital
Cypher Capital is a number one early stage technique agency centered on investing within the Web3 infrastructure and purposes that may drive the brand new digital economic system. Guided by environmental, social and governance authorities for each funding choice, Cypher is shaping the way forward for digital foreign money, public markets and the Web3.
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About Echelon
Echelon is a extremely environment friendly decentralized lending protocol that permits customers to borrow and lend property by way of unhidden funds. Its platform enhances capital effectivity and borrowing energy whereas offering protected, over-collateralized positions. Echelon helps segregated funds for long-term property and affords environment friendly leverage and RWA-backed vaults, positioning itself as a pacesetter within the subsequent technology of DeFi protocols.
ContactMedia supervisorShameem Shahdisgrace@cyphercapital.com
This text was initially revealed on Chainwire
