Oversubscribed Round With Top Blockchain VCs
Synonym Finance, a cross-chain lending platform, has announced the completion of its oversubscribed seed round funding, raising a total of $1.5 million. The funding round was led by Borderless Capital, a leading investment manager in the Web3 space. Synonym Finance aims to address the issue of fragmented liquidity and inefficient bridging in the DeFi space by providing a cross-chain money market that allows professionals to use the same liquidity across multiple chains. The platform leverages cutting-edge technologies to deliver a best-in-class money market experience.
Top Blockchain VCs Show Support
The successful seed raise drew support from notable venture funds including Robot Ventures, Big Brain Holdings, Veris Ventures, AWVC, SerDAO, and angel investors from Jones DAO and Arbitrum. These investors recognized the potential of Synonym Finance’s vision to pioneer true cross-chain borrowing and provide a crucial solution for capital efficiency across various blockchains.
Building a Premier Venue for Cross-Chain Lending
Synonym Finance is audited by OtterSec and Runtime Verification and has partnered with Gauntlet for quantitative modeling and real-time risk monitoring. The platform aims to become the premier venue for cross-chain lending and borrowing among major Layer-2 rollups, app-chains, and innovative Layer-3 solutions.
Hot Take: Synonym Finance Revolutionizes Cross-Chain Lending
Synonym Finance’s oversubscribed seed round funding demonstrates the strong support it has garnered from top blockchain venture capital firms. By addressing the challenges of fragmented liquidity and inefficient bridging in the DeFi space, Synonym Finance is paving the way for a more seamless cross-chain lending experience. With its focus on becoming a premier venue for cross-chain lending, Synonym Finance is set to revolutionize the industry and unlock new opportunities for users across different blockchain ecosystems.
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