zkLend raises $5mln in seed round led by Delphi Digital
We are excited to announce the closing of our $5 million seed-round investment led by Delphi Digital, and joined by our friends at StarkWare, Genesis Block Ventures, CMS, MetaCartel DAO, DCVC, Amber Group, TPS Capital, Ascensive, D3Web Capital, 4RC, and SkyVision Capital, among other leading Web 3.0 angels.
Inspired by the potential of zk-Rollups as the ultimate solution to true Ethereum scaling, we are building a next-generation money-market protocol on StarkNet. Our goal is to build an innovative lending product to welcome the next era of finance with both retail and institutional involvement and help grow the StarkNet ecosystem.
We have two products — Artemis, which is made for DeFi users, and Apollo, a whitelisted institutional solution for borrowing and lending. Together the two products will become one of the fundamental money legos in the emerging StarkNet ecosystem of dapps.
The Artemis launch is scheduled for Q3 2022 while Apollo will be deployed in early 2023. For Artemis, we will be introducing features such as an innovative ouroboros model to incentivise users to participate in the targeted money market pools. Other highlighted features include double-sided borrowing & collateralisation factors, protocol-to-protocol lending, and variable liquidation fees.
The funding from this round will go towards developing and launching Artemis and Apollo. Specifically, we have included a budget for team expansion across tech, marketing and business development. Join us on our journey as we create THE next money-market protocol on StarkNet — we’re currently hiring for multiple Software Engineers, ping us at firstname.lastname@example.org with your information.
zkLend is an L2 money-market protocol built on StarkNet combining zk-rollup scalability with Ethereum’s security, enabling participants to seamlessly earn interest on deposits and transparently borrow assets. The protocol offers a dual solution: a permissioned and compliance-focused solution for institutional clients, and a permissionless service for DeFi users — all without sacrificing superior transaction speed, and cost-savings with Ethereum’s security.