- Element Finance is a DeFi product service provider offering discount yield tokens and interest-bearing crypto products.
- The fresh funding will be used to build Element’s engineering, research, and design teams.
- Element Finance has over 9K active users and $167.14M in total value locked.
- Manta network is an interoperable privacy layer built on the Polkadot (DOT) blockchain.
- The fresh funding will be used to scale the Manta network for more DeFi solutions.
- Like Zcash (ZEC), the Manta protocol uses zero-knowledge succinct non-interactive argument of knowledge (zk-SNARK) with Groth16 proofs.
- Manta previously raised $1.1M in a funding round led by Polychain Capital back in February.
Sublime Finance, DeFi/Lending: $2.5M ⮕ The seed funding round was led by Galaxy Digital and Electric Capital with participation from FinTech Collective, Collab+Currency, Jill Carlson Gunter, and others.
- Sublime Finance is a DeFi lending platform that lets borrowers use their digital reputations to obtain loans through social capital.
- Lenders can access online profiles, previous lenders, and past loan performance of a borrower before lending them capital.
- Sublime plans to launch its LIME token in December to enable governance as the project looks to transition into a DAO.
- In addition to social capital and traditional loan collateral, Sublime is also looking to allow borrowers to use CrytpoPunks and other NFTs for collateral.