ETHA Lend, a yield optimizer protocol for DeFi, today announced it has closed a $1.6 million initial funding round from lead investors Digital Finance Group (DFG), AU21 Capital, and Privcode Capital.
Other investors include: Vector Capital, Chain Capital, PNYX Venture, Lancer Capital, Oasis Capital, TRG Capital, Candaq Capital, Dealean Capital, Inclusion Capital, Origin Capital, ZB Capital, YBB Foundation, AC Capital, Hotbit.
Designed to provide automated yield allocation across Ethereum and Polkadot DeFi ecosystems; ETHA Lend will be governed by ETHA token holders. The protocol’s algorithm is constructed to understand the precise circumstances of a liquidity provider and supply events; protecting users from high transaction costs, market limitations, and asset volatility.
“We are excited to have some of the most reputable names in the crypto investment and DeFi funding market on board. Our protocol hosts unique integrations of the DeFi space that shall let users dabble with yield farming with unseen simplicity, cross-chain independence, and progressive yield optimization opportunities. You can look forward to a time when the sector shall be free of the haunting tribalism and intimidations both for new and expert users.”
– Chester Bella, Founder of ETHA LEND
The close of this funding round will enable ETHA Lend to accelerate development towards its mainnet launch, currently scheduled for Q2 2021. ETHA Lend’s smart contracts are being inspected by Certik; one of the most highly reputed blockchain security auditors.