Miami, Florida, eleventh August, 2022, Chainwire
dPRIME Asset Modules Finance (”DAM Finance” or “DAM”), a protocol for creating buying energy from cross-chain token portfolios, is happy to share that it has acquired funding from the Arrington Capital Moonbeam Progress Fund .
The funding in DAM Finance is the third main funding by the Arrington Capital Moonbeam Progress Fund, a lately launched $100m fund to gasoline the Moonbeam ecosystem.
DAM facilitates buying energy from the broadest vary of blockchain-secured collateral, together with longer tail, yield producing, and real-world property. Within the protocol, debtors deposit baskets of tokens in a single transaction to mint dPRIME, a Dotsama stablecoin on Moonbeam.
DAM’s innovation offers debtors extra flexibility in dPRIME issuance and vault upkeep by mutualizing the worth of deposited collateral. As a part of its product roadmap, DAM will make the most of Moonbeam’s infrastructure to unlock liquidity for property native to different parachains and blockchains exterior of the Dotsama ecosystem.
“We consider the longer term is multi-chain and inclusive, a mentality that the DAM Finance staff shares with us,” stated Michael Arrington of Arrington Capital. “DAM is taking a considerate strategy to DeFi in creating a brand new mannequin for buying energy and danger administration. We’re thrilled to be supporting them as they embark to unravel a lacking part in in the present day’s setting.”
“Present cross-chain approaches endure from poor asset utilization and liquidity fragmentation,” stated Derek Yoo, Founding father of Moonbeam. “DAM is a superb instance of a brand new cross-chain DeFi protocol that’s leveraging linked contracts on Moonbeam to achieve property from a number of blockchains. With the ability to securely combination liquidity will enable DAM to be extra environment friendly and supply superior consumer experiences.”
“Moonbeam’s clear positioning because the token financial system’s nucleus for cross-chain liquidity makes it the best ecosystem for DAM to ship on its imaginative and prescient,” stated Harrison Consolation, Product Lead and Co-Founding father of DAM. “Arrington Capital has helped DAM from the start, and we’re thrilled to have the help of a extremely strategic associate with an intensive observe file of scaling initiatives within the token financial system.”
DAM’s preliminary deployment is focused for later this 12 months. Comply with DAM on Twitter, @DAM_Finance, for extra bulletins and undertaking updates.
About Arrington Capital
Arrington Capital is a digital asset administration agency primarily centered on blockchain-based capital markets. The agency, based in 2017 by TechCrunch and CrunchBase founder Michael Arrington and TechCrunch CEO Heather Harde, has over $1 billion beneath administration and has invested in lots of of startups internationally. Arrington Capital is a seasoned, worldwide staff composed of Silicon Valley veterans and operators with deep enterprise capital expertise and crypto native roots. Arrington Capital’s first fund was Arrington XRP Capital, and has expanded to a number of funds over time.
For extra info on Arrington Capital, go to http://arringtoncapital.com/.
Moonbeam is a brilliant contract platform for constructing cross-chain linked functions that may entry customers, property, and providers on any chain. By uniting performance from Ethereum, Cosmos, Polkadot, and extra right into a single platform, Moonbeam solves in the present day’s fragmented consumer expertise — unlocking true interoperability and paving the way in which for the subsequent era of functions. The Moonbeam platform makes use of built-in cross-chain messaging to permit builders to create good contracts that entry providers throughout many distant blockchains. This strategy, plus Moonbeam’s developer-friendly EVM platform, huge software help, and trendy Substrate structure, creates the best improvement setting for constructing linked functions.
DAM is a protocol for creating buying energy from cross-chain token portfolios via dPRIME, a Dotsama stablecoin on Moonbeam. Within the protocol, debtors are bankers, portfolios are collateral, dPRIME is the means of making buying energy and DAM is a danger administration wrapper. DAM’s core contributors have backgrounds in enterprise and public blockchains, asset administration, and information science.
Comply with DAM on Twitter, @DAM_Finance, for extra bulletins and undertaking updates.
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