After the bootstrap seed round in October last year, Everlend team is now excited to announce having successfully secured a $2.6 million strategic round backed by some of the key players in the industry.
The backers in the round include: GSR, Serum Foundation, Everstake Capital, Portico VC and several angel investors.
Everlend is a lending/borrowing aggregator powered by Solana. It launched on mainnet in early May and currently supports 10 assets and 3 money markets. Currently, the user depositing with Everlend receives a combination of high yield which is ensured by continuous rebalancing and a battle-tested risk management framework. One of the main novelty features is loan management (automatic movement of borrow positions between money markets).
“Loan management is a feature that got us excited about building Everlend in the first place. Since nobody has effectively done this before, it could be challenging at times but that’s the most fun part,” says Vit, one of the Everlend co-founders.
The team believes that in the current market situation a product, which makes the overall DeFi experience more secure, accessible and convenient for the average user is more needed than ever.
Everlend users can expect features such as In-app Swaps via Jupiter or wallet-to-wallet messaging and notifications via Dialect integrated in our frontend in the coming weeks.
Our plans to slowly transition Everlend into a community-led DAO has not changed at all. Together with several community members our team is currently exploring various use cases and types of utility for NFTs. As long as Everlends TGE hasn’t been conducted, those NFTs could be used for decision making and holders would also be able to cast their vote on other protocol related proposals.
The main motivation for the round was to boost the development process and the overall growth of the product. Additionally, a portion of the funds will be dedicated to the Safety Fund, an insurance pool which will be used to make Everlend users whole in case of defaults or hacks of the underlying money markets.
