Media: Polychain and Three Arrows invested a "seven-figure" sum in the defi-project KeeperDAO

31.07.2020 14:10
Defi-sector liquidity guarantor KeeperDAO has attracted more than $1 million in seed investments. The funding round was led by Polychain Capital and Three Arrows Capital. Tiantian Kullander, co-founder of the project, told the Block.

The creation of a joint project was announced by the crypto trading firm Amber Group and the research company Talo Systems in December. The goal of KeeperDAO is to maintain the liquidity of DeFi projects using funds deposited by their users.
"The growth of the DeFi sector increases the need for third-party liquidators and arbitrageurs to ensure orderly markets. With the help of a system that strengthens cooperation between custodians, lending platforms and exchanges with margin trading will eventually be able to reduce collateral requirements, " said Kullander.
During periods of volatility, the project will allow users to get a higher profit than when blocking funds in DeFi projects, KeeperDAO believes. In the absence of strong market movements, users ' funds will be directed to lending platforms like Compound and dYdX.

At the moment, KeeperDAO's liquidity pool is 4474 ETH (~$1.5 million). To manage the Protocol, the startup intends to issue its own token as part of the incentive program. The timing of its launch was not disclosed.

Earlier, Ethereum co-founder Vitalik Buterin spoke about the underestimated risks of smart contracts in the DeFi ecosystem.

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