The NEAR protocol has a new money market platform with the launch of Burrow, which announced a $5 million raise backed by Dragonfly Capital, ParaFi Capital, Jump Crypto, QCP Capital and others on Wednesday.is a non-custodial liquidity pool platform that functions as a decentralized money market, allowing users to supply and borrow assets for trading.
It comes as NEAR and a slew of next-gen blockchains look to stand up vibrant decentralized finance ecosystems – often with the help ofOther investors in the Burrow round include Lemniscap, Mentha Partners, Warburg Serres Investments, DeFi Capital, D1 Ventures, GFS Ventures, SevenX Ventures and Metaweb Ventures.
"We believe decentralized money markets act as a cornerstone for DeFi given their composability and utility," Anjan Vinod, Vice President at ParaFi Capital, said in a note to CoinDesk."By building natively on NEAR, we believe Burrow can integrate with other NEAR-native DeFi primitives including DEXs, liquid staking solutions, and stablecoins."
Burrow currently supports NEAR, DAI, USDT, USDC, ETH and wBTC for deposits and wrapped assets like stNEAR, stETH, stSOL and stFTM for staking. Burrow says that it will launch a governance token staking program in its second month. If users stake the native BRRR token, they will receive xBRRR which allows them to vote on DAO governance proposals.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
burrowcash NEARProtocol thesamreynolds NEARProtocol is just a palatable foundation for creation of Dapps that perfectly promotes DeFi.. Go Burrow
burrowcash NEARProtocol thesamreynolds Near = good
burrowcash NEARProtocol thesamreynolds MrBrownNFT 👀
burrowcash NEARProtocol thesamreynolds Another gem that we need to be looking for 👀
burrowcash NEARProtocol thesamreynolds CassavaNetwork can be implemented in any existing or new web2 applications to allow users have same reward privileges as web 3 CSV CassavaNetwork
burrowcash NEARProtocol thesamreynolds Check out this item on OpenSea opensea aracılığıyla
burrowcash NEARProtocol thesamreynolds Spend your fiat today on PayItNow_PIN PIN was developed with the goals in mind to reward their users Buy PIN now or FOMO later DYOR cryptos bsc investor trader
burrowcash NEARProtocol thesamreynolds With the current situation
burrowcash NEARProtocol thesamreynolds Be very careful of the $LOKA coin, I swear it will go down to 2 $⛔️❌🔻🔻🔻