New Partners Join Saffron Finance Ecosystem as Billions in Yield generating Assets Migrate from TradFi to DeFi
DeFi Pioneer Offering Risk-Adjusted Yields Welcomes Dragonfly Capital and
Leading Crypto Firms as Strategic Partners
MAR 8 2021, UNDISCLOSED LOCATION | Following an explosive year of growth in the DeFi space, Saffron Finance, the leading tranched yield protocol, is proud to announce that an industry-leading group of strategic partners are joining the Saffron ecosystem. Led by Dragonfly Capital, this group of partners also includes participation from Multicoin Capital, Coinbase Ventures, DeFi Holdings, and prominent angels Meltem Demirors, Brandon Chez, Marc Weinstein, Leo Cheng and Tegan Kline.
The Saffron protocol launched November 2020 and was the first DeFi platform to adapttranched risk, a traditional risk adjustment concept, to the DeFi space. With over $18 trillion in negative-yielding sovereign debt in traditional markets, Saffron is creating a bridge to enable the migration of billions in investable assets from the traditional debt and fixed income markets to crypto native capital markets. Saffron allows users to collateralize their crypto assets on the platform and obtain custom exposure to their desired risk and return profiles. The Saffron protocol automatically deploys liquidity to third-party DeFi lending platforms. To date, the Saffron protocol has garnered over $50M in Total Value Locked (TVL) across nearly two dozen asset pools.
Dragonfly Capital commented: “The buying and selling of risk is a critical component of any mature financial stack, and Saffron is the best team we’ve seen building a scalable solution here. Risk tranching is common in traditional finance, and Saffron leverages the composability of DeFi to add risk re-adjustment options to the crypto-native financial product landscape. We’re incredibly excited to support Saffron as they build out the future of risk management in DeFi.” These new strategic partnerships signal broad participation in the ecosystem across North America and Asia. The protocol is governed by the community of SFI token holders. SFI is the protocol’s native governance token. It currently has a market cap of over $200M and has been widely distributed among early adopters of the protocol.
In the realm of DeFi, Saffron is a unique project launched by an anonymous developer, psykeeper, who added: “Saffron is designed to enable the migration of billions of dollars in yield-based financial products from centralized financial institutions to decentralized open source financial networks by balancing risk and reward for individuals and institutions who deploy capital into the DeFi space. The novel tranched yield system allows investors to utilize a wide range of crypto assets to earn yield while controlling their risk. Our new partners bring a tremendous amount of capital markets and DeFi expertise, and will help inform the next phase of Saffron’s growth.”
This new group of partners, along with other users, are actively involved in the protocol’s evolution, as evidenced by a new on-chain multi-sig mechanism deployed to oversee governance functions on all Saffron pools and adapters.
Saffron’s partners include Dragonfly Capital, Multicoin Capital, Coinbase Ventures, CMS Holdings, DeFi Technologies, Focus Investments, Tally Capital, Meltem Demirors, Tegan Kline, Brandon Chez, Marc Weinstein, DeFi God, Leo Cheng, Benjamin Simon, Maple Leaf Cap, Shiliang Tang, Feng Liu, MrBlock.
Web3 app: https://saffron.finance
Telegram: https://t.me/saffronfinance
Discord: https://discord.gg/pDXpXKY
Twitter: https://twitter.com/saffronfinance_
Github: https://github.com/saffron-finance/saffron
