San Francisco-based startup Compound, which developed the DeFi protocol of the same name, raised $ 25 million in a round of financing Series A, led by Andreessen Horowitz.
Other participants include Bain Capital Ventures, Polychain Capital, and Paradigm.
The company intends to conclude agreements with a number ofexchanges and brokers, convincing them to use the Compound protocol instead of creating their own unit for lending. At the same time, Compound does not yet have a clear business model.
According to DeFi Pulse, the protocol has frozen assets of $ 102.7 million, which bring passive income to users.
Earlier, Vitalik Buterin said that the DeFi segment of decentralized applications on Ethereum has already achieved significant success.
Read more about DeFi in a special ForkLog material:
How bitcoin and other cryptocurrencies can attract investors tired of low interest rates