Curvance, a DeFi lending protocol, has secured USD 3.6 million in seed funding from more than 20 DAOs, developers, and angel investors, including Offchain Labs, Wormhole, Eigenlayer, and Curve Finance.

The company plans to use the funding to expand its operations, support security audits, and increase its employee base. 

Curvance is a DeFi application that provides lending and borrowing services across multiple chains and protocols. Users can earn interest from lending, collateralize assets for borrowing, and consolidate DeFi yields across liquidity pools and interest-bearing stablecoins. The protocol supports Ethereum and Layer 2 chains, such as Arbitrum, Optimism, Scroll, Base, and Polygon, and employs liquidity from decentralized exchanges like Curve, Balancer, Velodrome, GMX, and Pendle. 

Analyst QuickTake: DeFi lending has seen growing levels of activity in the last six months with a number of startups raising funding. These include Term Structure Labs and Versifi , which raised USD 4.3 million and USD 10 million just last month, as well as Membrane Labs and Cicada , which raised USD 20 million and USD 9.7 million , respectively, in October. Curvance aims to differentiate itself by providing its services across a wide range of protocols and multiple blockchains.