July 29, 2024
BlonkFi, a currency market protocol operating on the Solana blockchain, has successfully wrapped up its pre-seed investment round. A recent update on X disclosed that the fundraising was spearheaded by UOB Venture Management and Signum Capital, with supplementary contributions from Manifold Trading, Kyros Ventures, and Hypotenuse Labs. The total amount garnered in this round remains undisclosed.
Project | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|
BlonkFi | July 29, 2024 | Pre-Seed Round | UOB Venture, Signum Capital | DeFi, Meme |
BlonkFi operates as a liquidity infrastructure protocol. Its primary objective is to address the issue of illiquidity associated with volatile long-tail mid-market capitalization assets, including memecoins. By facilitating the collateralization of these assets for liquidity, BlonkFi effectively meets a significant market demand.
About BlonkFi
BlonkFi is a liquidity infrastructure protocol that operates on the Solana blockchain. It is designed to address the issue of illiquidity for volatile long-tail mid-market capitalization assets, such as memecoins. By enabling these assets to be collateralized for liquidity, BlonkFi addresses a critical need in the market.
The platform aims to build a money-making economy around memecoins, a new and untapped market category worth over $46B. By allowing users to safely utilize volatile assets as collateral, BlonkFi serves as a Core Liquidity Infrastructure Layer that unlocks additional composability for high-attention, high-volatility assets
Website: https://linktr.ee/blonkfi
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About Investor
The fundraising was spearheaded by UOB Venture Management and Signum Capital, with supplementary contributions from Manifold Trading, Kyros Ventures, and Hypotenuse Labs.
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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