Term Structure, a Taipei, Taiwan-based non-custodial fixed-income protocol that provides peer-to-peer, fixed-rate, and fixed-term borrowing and lending in decentralized finance (DeFi), raised $4.25M in Seed funding.
The round, which brought the total amount to over $8M, was led by Cumberland DRW with participation from Decima Fund, HashKey Capital, Longling Capital, and MZ Web3 Fund.
The company intends to use the funds to expand operations and its business reach.
The Term Structure Protocol testnet is live at https://app.testnet.ts.finance/ on Ethereum Goerli. Term Structure offers a protocol that currently has two core markets on its platform. In the primary markets, users can place orders to borrow or lend tokens with fixed interest rates and fixed maturity dates. Once orders are matched, borrowers will receive borrowed tokens and must repay their debts before the maturity date to reclaim their collaterals. Lenders will receive fixed-income tokens, redeemable for principal plus interest upon maturity. In the secondary markets, users can buy and sell fixed-income tokens through the orderbook trading system.
To secure users’ assets, the zkTrue-up scaling solution, a customized ZK Rollup, is in place to achieve data availability and enable users to place and cancel orders without gas fees. Users can also initiate Forced Withdrawal on the zkTrue-up contract to directly withdraw funds in case of censorship or any issues. If the withdrawal request is not fulfilled, users can activate the Evacuation Mode and perform the evacuation on the L1 contract to protect their assets.
FinSMEs
22/12/2023