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Solana-based DeFi app Tulip raised $5m in a bid to expand its yield aggregation and crypto lending products. The seven-month-old protocol, which at press time held over $800m in crypto assets, said Jump Capital and Alameda Research led the “strategic investment.” Other investors include Amber Group, Cadenza Ventures, Fisher8 Capital, CMS Holdings, Rarestone Capital, FinTech Collective and DV Chain – and will receive TULIP governance tokens from a vesting smart contract.
He said the protocol remains “self-sufficient” by capturing around 1.2% of Tulip’s nine-figure total value locked (TVL), which is the U.S. dollar value of the cryptocurrency committed to DeFi protocols that are built on a layer 1 blockchain. Funding will help them invest more in TULIP tokenomics.
https://www.coindesk.com/business/2021/10/27/solana-based-yield-aggregator-tulip-raises-5m/
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