March 15, 2024
Avalon Finance, a decentralized finance (DeFi) lending protocol under the Merlin Chain umbrella, has closed a $1.5 million seed funding round. This round marks a significant milestone in the company's mission to innovate within the Bitcoin (BTC) ecosystem.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Avalon Finance | Mar 15, 2024 | $1.5M | Seed | $1.5M | Matrixport | DeFi |
The seed funding round saw participation from several prominent venture capital firms and blockchain investors, including SNZ Capital, Summer Capital, Matrixport Venture, Spark Digital Capital, and Web3Port Foundation. These investors not only provide financial support but also bring expertise and strategic partnerships essential for Avalon Finance's growth and expansion.
Avalon Finance aims to establish itself as a comprehensive DeFi lending protocol, leveraging the security and widespread adoption of the BTC ecosystem. The protocol offers a range of financial services, including lending, algorithmic stablecoins, real-world assets (RWA), and derivative trading options. This approach bridges the gap between traditional finance and the DeFi sector, facilitating a seamless flow of liquidity into the BTC DeFi ecosystem.
The $1.5 million raised in the seed funding round will be used to enhance the platform's technological capabilities. Avalon Finance plans to invest in developing user-friendly, secure, and efficient financial products to meet the evolving needs of DeFi participants. This investment in technology is crucial for maintaining a competitive edge and offering advanced solutions to users.
Avalon Finance's commitment to technological innovation and its focus on the BTC ecosystem set it apart in the crowded DeFi landscape. By capitalizing on Bitcoin's robustness and security, Avalon Finance aims to attract users and liquidity providers seeking reliable, diversified financial services within the DeFi space. The protocol's initiative to integrate traditional financial liquidity with DeFi's dynamism through Bitcoin's ecosystem could redefine how investors view and engage with digital assets.
Investors such as SNZ Capital, Summer Capital, Matrixport Venture, Spark Digital Capital, and Web3Port Foundation underscore confidence in Avalon Finance's vision and potential. Their backing is a testament to the protocol's approach and its capacity to make a lasting impact on the DeFi lending landscape.
About Avalon Finance:
Avalon Finance is a decentralized protocol offering a BTC production liquidity mechanism. The company aims to create a comprehensive DeFi lending platform leveraging the security and adoption of the BTC ecosystem. Avalon Finance's offerings include lending services, algorithmic stablecoins, real-world assets, and derivative trading options, bridging traditional finance and DeFi.
Website: https://www.avalonfinance.xyz/
X Account: https://x.com/avalonfinance_
X Followers today: 180.1k
About Investor
Investor: Matrixport
Matrixport is a leading digital asset financial services platform offering trading, lending, and custody solutions. Based in Singapore, it provides a seamless bridge between traditional finance and cryptocurrencies, serving both institutional and retail clients. Matrixport ensures secure, reliable, and efficient access to digital asset investments.
Location: Singapore
Website: https://www.matrixport.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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