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Usha Yadav
Jul 29, 2022
by Usha Yadav

DeFi Protocol Aurigami Raised $12 Million From Venture Capitalists

Aurigami

Table of contents

  1. Aurigami Borrowing and Lending Protocol
The Aurora network-based decentralized finance (DeFi) technology Aurigami has raised $12 million through token sales. Aurigami shared the information on Thursday in an exclusive interview, stating that $9.5 million of the funding total was obtained through a private token sale, and $2.5 million was obtained through an initial exchange offering (IEO) on KuCoin, Bybit, and Impossible Finance. The IEO ended in May, and the private token sale ended in February.

The cryptocurrency venture capital firms Polychain Capital and Dragonfly Capital jointly led the private token round. Other investors included QCP Capital, Jump Crypto, Amber Group, Alameda Research, and Coinbase Ventures. Participating angel investors included former ParaFi partner Santiago Santos, CEO of Etherscan, Matthew Tan, CEO of Aurora Alex Shevchenko, and Bobby Ong and TM Lee, co-founders of CoinGecko.

Aurigami Borrowing and Lending Protocol

Aurigami is a borrowing and lending protocol on the NEAR blockchain's Aurora subnet. According to data from DeFi Llama, Aurigami is presently the second-largest lending protocol on Aurora after Bastion. It currently has a total value locked (TVL) of more than $20 million, compared to Bastion's TVL of more than $130 million.

Aurigami's co-founder EY Tan gets questioned about how the project intends to grow its TVL, and Tan said there are two key strategies. Firstly, facilitating cross-chain lending and borrowing, and secondly, supporting NEAR's native stablecoin USN as a borrowable asset. According to Tan, Aurigami intends to extend its ecosystem and ten-person team with new funding.

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DeFi Protocol Aurigami Raised $12 Million From Venture Capitalists
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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