Recently, Solana’s Yield Aggregators platform, Tulip Protocol, finished a $ five million funding round. In certain, this fundraising round has the presence of extremely crucial names.
Tulip Protocol (formerly acknowledged as Solfarm) is a yield aggregator and agricultural item exploited in the Solana ecosystem. In its newest model, the task claimed to have raised $ five million as a result of a “private token sale” course of action.
This funding round was led by two effectively-acknowledged market place makers, Jump Capital and Alameda Research. In addition, this round of financing also noticed the participation of Amber Group, Cadenza Ventures, CMS Holdings and FinTech Collective.
In addition to effectively-acknowledged money, Tulip also has the backing of person traders this kind of as Darren Lau, Noah Dummett and Cindy Leow (of Drift Protocol).
Tulip was previously 1 of the winning tasks of the Solana Hackathon. The platform enables consumers to stake tokens and advantage from self-compounding.
> See far more: The ultimate winners of the Solana Season Hackathon, who are they?
Currently, in accordance to information from DeFi Llama, the complete worth of frozen assets on Tulip is all-around $ 800 million. This task was also listed on the FTX exchange and even now has a “reverse storm” move in today’s market place correction.
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