ETHA Lend, a Shangai-based yield optimizer protocol for the DeFi ecosystem, raised $1.6m in initial funding.
The round was led by Digital Finance Group (DFG), AU21 Capital, and Privcode Capital with participation from Vector Capital, Chain Capital, PNYX Venture, Lancer Capital, Oasis Capital, TRG Capital, Candaq Capital, Dealean Capital, Inclusion Capital, Origin Capital, ZB Capital, YBB Foundation, AC Capital, Hotbit.
The funding will enable the company to accelerate development towards the mainnet launch of the protocol, currently scheduled for Q2 2021.
Led by Chester Bella, founder, Etha Lend is designed to provide automated yield allocation across Ethereum and Polkadot DeFi ecosystems and will be governed by $ETHA token holders. The protocol is powered by an algorithm that makes accessing the most optimal yield easier for users. The algorithm is constructed to understand the precise circumstances of a liquidity provider and supply events, protecting users from high transaction costs, market limitations, and asset volatility.
ETHA Lend’s smart contracts are being audited by Certik, one of the most highly reputed blockchain smart auditors globally.