Established VC firms are joining more unconventional investment firms to position the young DeFi protocol for the future.
A rapid rise in the decentralized finance (DeFi) world came today with a $ 4.9 million fundraising round led by major industry venture capital groups as well as some extraordinary, beginning players.
Alchemix, a DeFi loan protocol that repays itself by automatically investing loans into other return-generating protocols, has raised significant funds at Discord today from investors such as CMS Holdings and Alameda Research and eGirl Capital, the industry’s main foundations.
Investors include Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, Fisher8 Capital, Orthogonal Trading and an unnamed “individual”.
DeFi protocols and investment
Unlike recent VC investments in DeFi protocols, the Alchemix team made some effort to explain the terms of the tour. According to the Discord post, the team sold tokens from its treasury allocation at about $ 700 per ALCX, with prices varying between $ 680-800 depending on the token’s trading range on the March 11 sale day.
The post said the sale was equivalent to a one-year runway for the team, noting that there is currently a one-year lockdown on the team selling more allocated tokens and a three-month lockdown for new investors selling their own products. The newly raised funds will be used for audits, contractors, recruiting, marketing and community efforts.