2 years ago
Brandy covers crypto-related task superior deals for CoinDesk.
Interest-free lending protocol Hedge said Tuesday it raised $3.7 cardinal successful a effect backing circular led by Race Capital.
The task is readying for a nationalist motorboat during the 2nd 4th of this twelvemonth arsenic decentralized concern (DeFi) connected Solana eclipses $6.7 cardinal in full worth locked (TVL).
“Currently, determination is simply a immense accidental successful the Solana ecosystem due to the fact that 80% of Solana is not locked successful DeFi," Hedge co-founder and CEO Sebastian Grubb said successful a statement. “With Hedge we’re truly trying to upgrade the full Solana DeFi ecosystem. We privation to assistance users unlock much liquidity and amended leverage their assets without having to exit their positions.”
Hedge offers interest-free loans that supply users with instant liquidity without creating a taxable lawsuit with ongoing involvement payments. Users tin deposit and get against their Solana (SOL) tokens, and Hedge provides the loans successful USH, its dollar-pegged stablecoin.
On the collateral front, the loans tin person up to 90% loan-to-value (LTV), a ratio betwixt the indebtedness magnitude and the worth of the collateral.
New York-based Hedge was founded by erstwhile Google task manager Grubb and Work.com laminitis Chris Coudron.
“Liquidity is simply a communal symptom constituent for Web 3 users but Hedge is simplifying entree to liquidity, lowering barriers for some caller and seasoned users,” said Pantera spouse Paul Veradittakit successful the property release.e to the wide nationalist this quarter.
“Liquidity is simply a communal symptom constituent for Web3 users but Hedge is simplifying entree to liquidity, lowering barriers for some caller and seasoned users,” Pantera spouse Paul Veradittakit said successful a statement.
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Brandy covers crypto-related task superior deals for CoinDesk.
Brandy covers crypto-related task superior deals for CoinDesk.
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