Digital Currency Revolution Series: Bitcoin Price Trend Extends Bearish Streaks Amid New Derivatives Products Launch
Cryptocurrency Derivatives Series: Bakkt Becomes Pioneer To Introduce Regulated Bitcoin Option, Unveils Cash-Settled Futures Also
Blockchain Revolution Series: Canadian VC Portag3 Secures $320 Mln. (in Fund II) on FinTech Start-up
FxWirePro: Chinese Yuan on a roller-coaster ride amid US-China Trade Turmoil – Uphold USD/CNH Debit Call Spread
Digital Currency Revolution Series: Ethereum-Driven DeFi Start-up, Compound Completes 25Mln. Fundraising Via Series A
Compound is an algorithmic money market protocol on Ethereum that lets users earn interest or borrow assets against collateral. Anyone can supply assets to Compound’s liquidity pool and immediately begin earning continuously-compounding interest. Rates adjust automatically based on supply and demand.
Of late, the Decentralized Finance (DeFi) platforms have been striking the chord within the financial industry which is now weighing over multi-millions of dollars. The credit is predominantly due to the various foundations, in current era, are unveiling their own DeFi protocols on the Ethereum network. Today’s announcement of the Series A has been a classic instance of such mechanism followed by Compound’s $8.2 million seed round in 2018.
It was projected to have raised about a $90 million valuation for Compound, which currently holds over $150 million in its DeFi platform. The fundraising (Series A) comprises involvement from other renowned investment veterans, such as, Polychain Capital, Paradigm, and Bain Capital Ventures.
Tesla Cybertruck update: Is Elon Musk's futuristic pickup truck joining the 'Cyberpunk 2077' vehicle lineup?