INIT Capital Raises $3.1 Million in Funding to Enhance Partnerships in DeFi
Liquidity provider INIT Capital has secured over $3 million from investors in a seed funding round to strengthen its partnerships with decentralized exchanges and applications. The funding round, co-led by Electric Capital and Mirana Ventures, also saw participation from investors including Maelstrom.fund, Robot Ventures, and Nomad Capital.
INIT Capital aims to address the lack of composability in money market architecture that hinders access to deep liquidity in the rapidly developing DeFi space. Founder Tascha Punyaneramitdee highlights the urgent need for a new solution to facilitate a more accessible liquidity ecosystem in DeFi.
Ongoing Efforts to Forge Collaborations
In addition to the funding, INIT Capital is actively working on collaborations with several decentralized exchanges and protocols. While specific partners have not been disclosed yet, the firm’s technological progress and market strategy are expected to be bolstered by these partnerships.
Solving the Problem of Liquidity Fragmentation
INIT Capital aims to solve the problem of liquidity fragmentation in the evolving DeFi landscape. While diverse borrowing use cases are accommodated, the architecture of money markets has not correspondingly evolved. By addressing this issue, INIT Capital seeks to create a more efficient and accessible liquidity environment for DeFi participants.
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