Term Labs secures $2.5M in funding for DeFi fixed-rate products
On February 28, Term Labs announced the completion of a new round of financing of US $2.5 million, led by Electric Capital, with the participation of Circle Ve…
On February 28, Term Labs announced the completion of a new round of financing of US $2.5 million, led by Electric Capital, with the participation of Circle Ventures, MEXC Ventures, Coinbase Ventures, etc. The new funds will be used to build DeFi’s fixed-rate products.
Term Labs completed $2.5 million financing, and Electric Capital led the investment
Interpretation of the news:
Blockchain development firm Term Labs has recently completed a financing round of $2.5 million to develop fixed-rate products within the decentralized finance (DeFi) space. The round was led by Electric Capital, with the participation of other ventures such as Circle Ventures, MEXC Ventures, and Coinbase Ventures.
The DeFi space has been rapidly growing in popularity since last year, as it offers a range of financial services without traditional intermediaries such as banks. However, many DeFi products are still subject to price volatility, which may discourage some users from adopting them. This is where Term Labs’ fixed-rate products come in – they offer an alternative for those who desire the benefits of DeFi without the risk of price instability.
Term Labs aims to “augment the DeFi investor toolkit” by offering fixed-rate yield products such as bonds, which can be bought and sold on blockchain-based marketplaces. These products will provide predetermined interest rates, enabling users to more accurately predict their returns on investment.
Electric Capital’s involvement in this financing round is particularly noteworthy, as the venture capital firm focuses exclusively on blockchain projects. CEO Avichal Garg has emphasized the importance of “building infrastructure for the new financial system” and DeFi’s potential to offer more accessible and democratic financial services.
Other investors in this round also bring their own expertise to the table. Coinbase Ventures, the venture capital arm of cryptocurrency exchange Coinbase, has previously invested in blockchain startups such as Compound and Uniswap. MEXC Ventures is the venture capital arm of MEXC Global, a cryptocurrency exchange that prides itself on its global reach and diverse product offerings.
Term Labs’ fixed-rate products may provide a valuable complement to the DeFi space, which is still largely speculative as it continues to mature. With this funding, the firm will be able to push forward with its mission to make DeFi more inclusive and accessible.
In summary, Term Labs has secured $2.5 million in financing to develop fixed-rate products for the DeFi space, which will provide more predictable returns on investment. This funding round was led by Electric Capital, with participation from other blockchain-focused ventures such as Coinbase Ventures and MEXC Ventures. These products may offer a valuable alternative for those seeking the benefits of DeFi without the risk of price volatility.
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