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Funding
Term Labs raises USD 5.5 million in strategic funding to drive further adoption of its on-chain lending platform
Decentralized Finance (DeFi)
Jul 9, 2024
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Decentralized Finance (DeFi)

Decentralized Finance (DeFi)

Jul 9, 2024

Term Labs raises USD 5.5 million in strategic funding to drive further adoption of its on-chain lending platform

Funding

  • Term Labs, developer of DeFi lending platform Term Finance, has raised USD 5.5 million in strategic funding led by Electric Capital, with participation from Maelstrom, Ava Labs Blizzard Fund, Arete Capital, Inception, Delta Blockchain Fund, and others. This round brings its total funding to USD 8 million.

  • The company plans to use the funding to drive further adoption of its lending platform. Moreover, Term Labs announced an invite-only rewards program to reward early adopters for participating in the protocol.

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