dHEDGE DAO has raised $2m in a DAO Treasury Diversification round.

dHEDGE DAO has raised a total of $2m led by Synthetix. Joining the round are 0xVentures, Mask Network, Ellipti, Meld Ventures and Rob Salha, co-founder of Zed Run.

Over the past year, dHEDGE DAO has emerged to be a leading permissionless decentralized hedge funds protocol.

This round of funding will supercharge the next phase of dHEDGE’s growth and expansion into multiple networks. The team will focus on additional DeFi integrations and product improvements across tech and marketing.

With the increasing adoption of crypto applications and surge in network congestion on the Ethereum Blockchain, dHEDGE DAO started looking into layer 2 networks and scaling solutions. Polygon emerged as the most suitable starting point for dHEDGE V2: Multichain, multi DeFi protocol that enables managers to access assets beyond Synthetix.

The initial debut of dHEDGE V2 was integration of new assets, liquidity provision capabilities and yield farming from Sushiswap Decentralized Exchange into dHEDGE pools.

The funds raised will accelerate dHEDGE DAO’s efforts with the hiring of a full time head of growth and strengthening the developer team. We will be developing dHEDGE V2 with additional L2 ecosystems such as Arbitrum and continue our long term collaboration with Synthetix on Optimism. dHEDGE V2 will keep expanding and integrating protocols such as the recently introduced native trading with AAVE, 1inch and upcoming Balancer.

Henrik Andersson, Co-founder @ dHEDGE

“As DeFi builders, we are committed to democratize access to financial opportunities using innovative smart contract applications. When I reflect on the recent 12 months since we first launched dHEDGE V1, I’m humbled at the amazing progress the team and community have made since the early days we came out of the Synthetix community to build the dHEDGE Protocol. The strategic capital that is injected into the DAO will help accelerate dHEDGE into more networks, add integrations and expand our partnerships”

Jordan Momtazi, Co-founder @ Synthetix

“dHedge continues to innovate in becoming the primary tool for automated investment strategies. V2 highlights their ability to expand the offering to end users and Synthetix is thrilled to support this next phase as an ecosystem partner”

Suji Yan, founder of Maskbook

“We’re very excited to back dHEDGE in this strategic round and through multiple funding methods: Token Swap as well as strategic DAO treasury diversification.

Mask worked on integrating with dHEDGE to allow users to directly trade on social networks, Social trading directly on major social networks is a huge upgrade over existing stand alone social trading sites and may as well be the birthplace of next generation Wall Street Bets”

More About dHEDGE

dHEDGE is a decentralized asset management protocol connecting the world’s best investment managers with investors on the blockchain in a permission less, non-custodial, trustless fashion. dHEDGE aims to democratize the investing experience leveraging Blockchain technology.

Supported by some of the biggest names in crypto, including Framework Ventures, Three Arrows Capital, BlockTower Capital, DACM, Maple Leaf Capital, Cluster Capital, Lemniscap, LD Capital, IOSG Ventures, NGC Ventures, Bitscale Capital, Divergence Ventures, Genblock Capital, Trusted Volumes, Altonomy, Continue Capital, The LAO, Bitfwd (比特未来), Loi Luu, Co-Founder and CEO of Kyber Network, Synthetix, Mask Network, Ellipti, 0x Ventures and Meld Ventures.

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