Yield closes $10mm funding round led by Paradigm

We are excited to announce the close of a $10mm Series A funding round led by Paradigm. This round is a continuation of a deep partnership with the Paradigm team that began with their seed investment and incubation of Yield. We are also very happy to welcome new investors including Framework Ventures, Symbolic Capital Partners, CMS Holdings, Variant, and the DeFi Alliance.

This added capital and new partners will help us to keep fueling our growth as we prepare to launch version 2 of the Yield Protocol later this year, which will feature some powerful changes that we think will make Yield even more useful.

We believe that fixed-rate borrowing will be essential for DeFi to onboard its first billion users. Yield Protocol exists to enable collateralized, fixed-term borrowing and lending for DeFi. Fixed-rate borrowing and lending will give users greater certainty over borrowing costs and returns on savings, enabling DeFi to better compete with traditional finance.

Version 2 of the Yield Protocol will extend it to new use cases by enabling new collateral assets and new borrowable assets. The upgraded protocol will be gas-efficient and composable to help achieve our goal of making fixed-rate borrowing a fundamental building block of decentralized finance.

Yield Protocol will also be launching DeFi’s first fixed-rate integration with MakerDAO. Once the integration is complete, MakerDAO will be able to lend Dai via Yield Protocol at fixed-rates chosen by its governance process. This integration will create a new, stable source of lending income for MakerDAO, encourage additional adoption of Dai, and give MakerDAO new tools to manage the Dai peg.

To learn more about Yield, please visit our website, follow our Twitter account, or join our Discord server. And if you’re as excited as we are about building fundamental financial tools for DeFi, please view our available jobs.