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Paradigm Labs Closes Down, Says DeFi Boom Came Too Late In Company's Life Cycle
Summary: Paradigm Labs will be shutting down after finding that interest in decentralized finance (DeFi) came too late in the company's life cycle. According to a blog post on Tuesday, founder and CEO Liam Kovatch said, "Our team has come to the decision that without significant product market fit and limited resources to pursue emergent opportunities, ...
Paradigm Labs will be shutting down after finding that interest in decentralized finance (DeFi) came too late in the company's life cycle.
According to a blog post on Tuesday, founder and CEO Liam Kovatch said, "Our team has come to the decision that without significant product market fit and limited resources to pursue emergent opportunities, the kind of success we envisioned for Paradigm Labs is unlikely."
The California-based DeFi initiative wanted to develop liquidity solutions for the DeFi space. Paradigm had a promising start in 2018 when it raised $1 million in an oversubscribed seed round led by Polychain Capital, with additional placements from Dragonfly Capital and Chapter One.
By Ramsey Baker
Tags: Closing,DeFi,Liam Kovatch,paradigm labs
Link: Paradigm Labs Closes Down, Says DeFi Boom Came Too Late In Company's Life Cycle [Copy]
