August 26, 2024
Origami Finance has announced the successful closing of a $1.5M seed round, with contributions from notable angels and DAOs such as DCF God, Ouroboros Capital, and Fjord Foundry. This funding will help advance their vision of creating a new DeFi money lego through tokenized automated leverage on Berachain.
Project | Latest Raise | Latest Raise Date | Stage | Category |
|---|---|---|---|---|
Origami Finance | $1.5M | August 26, 2024 | Seed Round | DeFi |
Since launching their first delta-neutral vaults on Ethereum mainnet, Origami has achieved a notional Total Value Locked (TVL) of over $50M. This success is attributed to their platform allowing users to leverage farm popular protocols like Ethena, Usual, and EtherFi with ease.
On Berachain, Origami plans to create liquidity in DEX pools for new lovTokens (Leveraged Origami Vault Tokens), enabling users to seamlessly swap in and out of automated leverage positions. This will leverage Berachain’s unique consensus mechanism to enhance liquidity through a robust incentive system.
The development journey is supported by investors such as Ouroboros Capital, Fjord Foundry, Good Partners, Aquanow, Beraland, Boba Tea Capital, Upside, and 33Ventures, along with angels like DCF God, Jani (The Honey Jar), Greenfund, RiffRaff, Adli (Usual), 0xBisbis, DeFi Ted (ParagonsDAO), Steve Bearwin (Ursadom), Noral & Polar (Ramen Finance), Oleg (Coinrule), and others. TempleDAO, Origami’s incubator, also participated as a follow-on investor.
Lux, Co-Founder of Origami Finance, expressed excitement about the funding, stating it will enable them to fully utilize lovTokens in the coming year, benefiting from Berachain’s unique economic environment.
About Origami Finance
Origami Finance is an automated leverage protocol designed to simplify and enhance decentralized finance (DeFi) interactions. It allows users to leverage farm popular protocols on Ethereum and Berachain with ease, using a system of Yield-Bearing Tokens (YBT) that maximizes capital efficiency while minimizing risks like liquidation and bad debt. Essentially, Origami Finance aims to make DeFi more accessible and efficient for users.
Website: https://origami.finance/
About Investor
The development journey is supported by investors such as Ouroboros Capital, Fjord Foundry, Good Partners, Aquanow, Beraland, Boba Tea Capital, Upside, and 33Ventures, along with angels like DCF God, Jani (The Honey Jar), Greenfund, RiffRaff, Adli (Usual), 0xBisbis, DeFi Ted (ParagonsDAO), Steve Bearwin (Ursadom), Noral & Polar (Ramen Finance), Oleg (Coinrule), and others. TempleDAO, Origami’s incubator, also participated as a follow-on investor.
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