Express
DeFi Protocol Alchemix Finance Raised $3.1 Million In Funding, Led By Spartan Capital
Summary: A new DeFi protocol Alchemix Finance has received $3.1 million in strategic financing, led by Spartan Capital, the investment arm of the crypto consulting company The Spartan Group. The round also saw the participation from Delphi Ventures, Nascent, CMS Holdings, Maven 11, Genesis Block Ventures, and Spartan Group General partner Jason Choi and others. Early ...
A new DeFi protocol Alchemix Finance has received $3.1 million in strategic financing, led by Spartan Capital, the investment arm of the crypto consulting company The Spartan Group. The round also saw the participation from Delphi Ventures, Nascent, CMS Holdings, Maven 11, Genesis Block Ventures, and Spartan Group General partner Jason Choi and others.
Early this month, Alchemix raised $4.9 million through an over-the-counter token sale led by CMS Holdings and Alameda Research.
The development team is anonymous and built by the pseudonym "Scoopy Trooples". The project aims to combine yield generation with a lending platform that allows loans to be drawn based on future income.
Users can deposit Dai to withdraw alDai, up to 50% of the deposit, and then convert AlDai to Dai one-to-one through protocol or exchange. At the back end, Alchemix sends the deposited funds to a yield platform such as Yearn.finance. The proceeds can be used to automatically repay the alDai loan over time, and 10% of the proceeds is withheld as the income of its treasury.
By Mary Liu
Tags: Alchemix Finance,CMS Holdings,Dai,Delphi Ventures,Fund,Genesis Block Ventures,Maven 11,Nascent,Spartan Capital
Link: DeFi Protocol Alchemix Finance Raised $3.1 Million In Funding, Led By Spartan Capital [Copy]
