Connect with us
Prague Gaming & TECH Summit 2024

Blockchain

Aurigami Collects $12M Warchest to Grow Aurora-Based Lending Protocol

Published

on

Dubai, United Arab Emirates–(Newsfile Corp. – August 2, 2022) – Aurigami, a lending protocol with currently the third largest TVL on Aurora, has raised a total of $12M in a combination of private and public sale.

Aurigami $12M Fundraise

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8506/132492_b35802dc643b0b5b_001full.jpg

The private part of the raised includes $9.5M, collected from a large number of major venture funds. The round was co-led by Dragonfly Capital and Polychain Capital. Other funds who joined include Mechanism Capital, Amber Group, Coinbase Ventures, Jump Crypto, Alameda Research, Lemniscap and others.

Several prominent angels also joined, such as Alex Shevchenko, CEO of Aurora; Julian Koh, Co-Founder of Ribbon; Bobby Ong & TM Lee, CoinGecko Co-Founders; Alex Svanevik, Nansen; Etherscan’s Matthew Tan; and Santiago R. Santos.

A later Initial Exchange Offering on Kucoin, Bybit and Impossible Finance saw 5% of total supply sold for $2.5M. All raises were conducted by offering PLY, the governance token of the Aurigami platform.

Aurigami is an overcollateralized lending platform allowing users to supply crypto assets and borrow them to obtain leverage. Unlike similar protocols, Aurigami places heavy emphasis on gamification. One of its key innovations is the concept of “Locked Liquid Tokens” (LLT), which allows the project to attract liquidity without creating instant selling pressure. PULP, the LLT for PLY, is a token that acts as a claim of PLY in the future.

The $12M raise grants Aurigami a sizable treasury and runway to continue developing the platform, including expanding on the LLT concept and driving Aurora ecosystem growth such as promoting adoption of NEAR’s USN stablecoin.

“We’re glad to have raised this combined $12M to help support us in building the platform through this crypto winter,” said Lucas Huang, Co-Founder of Aurigami. “With the combined support from the world class investors, and the amazing communities who joined our public sale, we’re here to bring LLTs and gamified DeFi to Aurora users.”

About Aurigami

The Aurigami protocol enables users to lend, borrow, and earn interest with their digital assets. Depositors provide liquidity to the protocol to earn a passive income, while borrowers are able to borrow in an over-collateralized fashion. Aurigami is pioneering the concept of “Liquid Locked Tokens” to allow a DeFi-native solution for vested tokens.

Contact:
Lucas Huang
[email protected]
Co-founder

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132492

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

Published

on

alarum-announces-exciting-events-lineup-and-welcomes-esteemed-advisor-to-netnut’s-advisory-board
Continue Reading

Blockchain

RevoluGROUP Canada Inc. Announces White Label Partnership with MONECO France

Published

on

revolugroup-canada-inc.-announces-white-label-partnership-with-moneco-france
Continue Reading

Blockchain

Australian Fintech Stables Launches International Remittances Between Australia and The Philippines

Published

on

australian-fintech-stables-launches-international-remittances-between-australia-and-the-philippines

Pictured Left to Right: Erez Rachamim, Bernardo Bilotta and Daniel Li.

Continue Reading
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE