San Francisco based protocol for decentralized lending has raised $7m in Series A financing led by Green Visor, with participation from Coinbase, Polychain, YC, Passport Capital, Blockchange, and Ripple's Xpring fund.
The gold rush has gotten a lot slower, but more shovel shops are opening. There’s been a slew of new companies emerging to offer crypto versions of existing, well-established financial products. For example, Compound is building a money market for crypto. Paradigm is building a decentralized order book. Caspian is building a more sophisticated backend for crypto trading and investment operations. This increasing robustness could be key. Research out of the University of Queensland suggested that crypto lacks the adequate liquidity to find accurate prices. Indeed, Mike Walsh, general partner at Green Visor, said in a press release: