Dubai, UAE, August twenty eighth, 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 progressive decentralized lending protocol. The seed spherical attracted extra assist 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 reinforce DeFi lending by enhancing capital effectivity, integrating with different DeFi purposes, and offering progressive yield methods on Transfer-based blockchains resembling Motion and Aptos.
“Echelon has demonstrated that their project is truly driving innovation in the DeFi space,” mentioned Harsh Agarwal, Funding Lead at Cypher Capital “Echelon’s focus on capital efficiency, user-friendly design, and its potential to integrate real-world assets makes it a standout in the evolving DeFi landscape. We are excited to support their efforts in developing high-performance lending markets.”
Echelon’s protocol options superior functionalities together with elevated borrowing energy on correlated belongings, remoted swimming pools for area of interest asset markets, and direct in-wallet integration for streamlined yield methods. The platform is designed to focus on institutional-grade markets whereas making certain reasonably priced borrowing charges and progressive yield alternatives.
“This funding will help us build additional lending and risk management products, expand to new networks, and provide global access to dollar-denominated yields,” mentioned Glen Rose, cofounder of Echelon. “We’re excited to build core primitives on high-performance Move-based chains.”
With the brand new funding, Echelon plans to reinforce its choices by creating methods backed by treasury and real-world belongings (RWAs), implementing cross-chain deposit vaults, and increasing its workforce of full-stack and sensible contract engineers.
About Cypher Capital
Cypher Capital is a number one early-strategy enterprise agency targeted on investing in Web3 infrastructure and purposes that can drive the brand new digital economic system. Guided by environmental, social, and governance for each funding determination, Cypher is shaping the way forward for digital foreign money, public markets, and Web3.
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About Echelon
Echelon is a high-efficiency decentralized lending protocol that allows customers to borrow and lend belongings by non-custodial swimming pools. Its platform enhances capital effectivity and borrowing energy whereas offering safe, overcollateralized positions. Echelon helps remoted swimming pools for long-tail belongings and provides streamlined leverage staking and RWA-backed vaults, positioning itself as a frontrunner in the following technology of DeFi protocols.
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