DeFi Aurigami protocol on Aurora raised $12 million in funding
Aurigami, a decentralized finance protocol (DeFi) based on the Aurora network, has raised $12 million from venture capitalists and the public. According to DeFi Llama, Aurigami is currently the second TVL lending protocol on Aurora.
Aurigami reports that out of the total funding, $9.5 million was raised through the private sale of tokens and $2.5 million through the initial exchange offering (IEO) on KuCoin, Bybit and Impossible Finance (IDIA). The private sale of tokens ended in February, and the IEO - in May.
Cryptocurrency venture capital companies Dragonfly Capital and Polychain Capital jointly led a round of private token sales. Other investors included Coinbase Ventures, Alameda Research, Jump Crypto, Amber Group and QCP Capital.
Angel Investors, including Aurora CEO Alex Shevchenko, CEO of Etherscan Matthew Tan, former partner of ParaFi Santiago Santos and Co-founders of CoinGecko Bobby Ong and TM Lee, also took part.
Investors have purchased their own Aurigami token (PLY). According to CoinGecko, it is currently trading at around $0.001, which is 95% below its historical high of $0.02.
Aurigami (PLY) was launched earlier this year. This is a lending and borrowing protocol in Aurora, a NEAR blockchain subnet. According to DeFi Llama, Aurigami is currently the second largest lending protocol on Aurora after Bastion (BSTN). Its current total blocked value (TVL) is over $20 million, while TVL Bastion is over $130 million.
Answering the question of how Aurigami plans to increase TVL, its co-founder Hey Tan said that the project has two main plans in this regard. Firstly, the use of its own stable coin NEAR USN as a borrowed asset, and secondly, support for inter-network lending and borrowing.
According to Tan, with fresh capital available, Aurigami also plans to increase its current team of 10 people and expand its ecosystem. Currently, the project mainly hires developers.
https://coin-signal.com/cryptonews/defi-aurigami-protocol-on-aurora-raised-12-million-in-funding/
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