Asymmetry Finance, a remote developer of a liquid staking tokens (LST) protocol, raised $3M in Seed funding.
The round was led by Ecco Capital, Republic Capital, and GMJP. Additionally, Asymmetry received an investment from Ankr.
The company intends to use the funds to further develop its liquid staking protocol, add talent to the team, and onboard decentralized finance (DeFi) enthusiasts and institutions to its platform.
Led by Justin Garland, and Hannah Hamilton, Asymmetry Finance is a provider of a DeFi protocol designed to decentralize Ethereum by making complex strategies with yield and asymmetric upside accessible to the next billion Web3 users. At the heart of its protocol is its flagship project, Simple Asymmetry Finance Ethereum (safETH), which aims to deliver returns to users in a secure and efficient manner. The fundamental elements of safety include:
- Fee-Free Decentralized Asset Basket: The use of a decentralized basket of assets – with no additional user fees – directly mitigates risks such as the central point of failure, and a singular dominant custodian, at risk of possible regulation.
- Simplicity and Accessibility: Lowering the point of entry to all DeFi users in an effort.
- Indexed Products: Indexed products are traditionally popular across markets due to their diversification by nature and reduced risk, particularly in the case of passive yield.
FinSMEs
16/05/2023