News Formal

Folks Finance raises $7.5 million to expand Cross-Chain DeFi lending

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Folks Finance has successfully closed a Strategic Fundraise led by Borderless Capital, at a valuation of $75 Million, lifting the total investments into the protocol to $7.5 Million

. The new round provides the necessary fuel for the launch of a Cross-Chain expansion of the product suite, powered by Wormhole, Chainlink CCIP, and Circle CCTP.

The Folks team will launch its Hub & Spoke lending using Chainlink CCIP, Wormhole, and Circle CCTP to enable cross-chain messaging and transfers. Avalanche, Base, Ethereum, and Arbitrum are set as the initial deployments for April 2024. The team forecasts around 15 chains to be integrated by the end of the year.

The product roadmap also includes the FOLKS governance token, which will be released following the launch of the Cross-Chain expansion.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 562. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Beyond Banking Apps: How Embedded Finance Is Reshaping FinanceIvo Gueorguiev, co-founder at Paynetics. Read Ivo Gueorguiev's full executive profile here.
Källa: ForbesTech - 🏆 318. / 59 Läs mer »

Ethereum Staking Protocol Lido Finance Surpasses 1 Million ValidatorsCrypto Blog
Källa: Crypto_Potato - 🏆 568. / 51 Läs mer »

DeFi platform Hedgey Finance hit by $44 million exploitOver $500 million worth of digital assets were lost to hacks and exploits in Q1 2024.
Källa: Cointelegraph - 🏆 562. / 51 Läs mer »

Ethereum liquid restaking protocol Puffer Finance reaches $200 million valuation in new token funding roundPuffer Finance has raised $18 million in a Series A funding round co-led by Brevan Howard Digital and Electric Capital.
Källa: TheBlock__ - 🏆 464. / 53 Läs mer »

Blast-based Leaper Finance flagged as expert cites nearly $1 million baitRenowned on-chain detective ZachXBT has flagged Leaper Finance, a new project on Layer 2 (L2) network Blast.
Källa: FXStreetNews - 🏆 14. / 72 Läs mer »

Pac Finance Sudden Parameter Change Sparks $24 Million LiquidationCrypto Blog
Källa: Crypto_Potato - 🏆 568. / 51 Läs mer »