Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

ETHA Lend Closes $1.6 Million Initial Funding Round from Lead Investors Digital Finance Group, AU21 Capital, and Privcode Capital

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ETHA Lend will leverage the funds raised to continue development on its protocol that makes optimizing yield easier for DeFi users.

ETHA Lend, a yield optimizer protocol for the DeFi ecosystem, closes a $1.6 million initial funding round from lead investors Digital Finance Group (DFG), AU21 Capital, and Privcode Capital. Other investors include Vector Capital, Chain Capital, PNYX Venture, Lancer Capital, Oasis Capital, TRG Capital, Candaq Capital, Dealean Capital, Inclusion Capital, Origin Capital, ZB Capital, YBB Foundation, AC Capital, Hotbit.

ETHA Lend is designed to provide automated yield allocation across Ethereum and Polkadot DeFi ecosystems and will be governed by $ETHA token holders. The protocol is powered by an algorithm that makes accessing the most optimal yield easier for users. The algorithm is constructed to understand the precise circumstances of a liquidity provider and supply events, protecting users from high transaction costs, market limitations, and asset volatility.

James Wo, an active investor and the Founder of DFG, said, “Whether it be displaying transparent market rates, intelligently allocating assets, or simplifying the process of engaging in yield farming, the ETHA lend platform has demonstrated sector-leading levels of performance, and we firmly believe this technology will serve as an important gateway for widespread DeFi adoption."

Min Kim, Principal at AU21 Capital said, "We are excited to partner with ETHA Lend as they streamline bottlenecks within DeFi investing and set a new bar for yield optimization services. The ETHA Lend protocol is a robust tool that algorithmically analyzes and complies data to offer unparalleled functionality across the entire decentralized financial system."

Chester Bella, the founder of ETHA LEND protocol, said, “We are excited to have some of the most reputable names in the crypto investment and DeFi funding market on board. Our protocol hosts unique integrations of the DeFi space that shall let users dabble with yield farming with unseen simplicity, cross-chain independence, and progressive yield optimization opportunities. You can look forward to a time when the sector shall be free of the haunting tribalism and intimidations both for new and expert users.”

The close of the initial funding round will enable ETHA Lend to accelerate development towards the mainnet launch of the protocol, currently scheduled for Q2 2021. ETHA Lend's smart contracts are being audited by Certik, one of the most highly reputed blockchain smart auditors globally.

About ETHA Lend
ETHA Lend is a composable DeFi yield optimizer that will be governed by the $ETHA token holder. The project was co-founded by Chester Bella & Danny Boahen, previously operations analysts at german neobank N26. The protocol is designed to provide algorithm optimized yield allocation across DeFi ecosystems.

About Digital Finance Group
Digital Finance Group (DFG) is a global blockchain and digital asset investment firm that aims to support the maturation of the cryptocurrency ecosystem to create value for users. By taking an active role in project development, DFG fosters the growth of such protocols as Polkadot, Cosmos, Ethereum Classic, and Ethereum. Founded in 2015, the firm manages investments in excess of $550M. Portfolio companies include LedgerX, Bloq, Circle, and Ripio among others. Successful exits include Brave and Centre, where DFG was the lead investor to create and launch USDC.

Vendredi 5 Mars 2021