Alice, a Los Angeles, CA-based mobile Decentralized Finance (DeFi) application, raised $2m in seed funding.
The round was led by Arrington Capital, Co-Founder and CEO of Terraform Labs Do Kwon, Mechanism Capital, and Accomplice Blockchain.
Led by Echul Shin, Co-Founder and CEO, Alice will build a mobile financial application deriving fast payments and offering access to high-yield from DeFi, supplying it to mainstream users with a user-friendly interface.
It is powered by the Terra blockchain. Terra is a Proof-of-Stake blockchain network built on the Cosmos SDK that deploys a suite of algorithmic, fiat-pegged stablecoins underscoring a blossoming DeFi ecosystem including apps like Anchor Protocol.
Currently, Alice is signing up users for its Beta Application. The Alice team also has plans to add a debit card that will allow its users to spend TerraUSD (UST) at merchants around the world.