Bonded, a fintech platform which deploys Decentralised Finance (DeFi) financial instruments that endeavor to leverage dormant capital, has announced the successful completion of their first round of funding. The project secured $2.25M in capital investments from prominent venture groups such as AAM, Spark Digital Capital, Blackedge, and Rarestone Capital. This endorsement validates Bonded’s ambitious initiative and clearly acknowledges the unrealized value residing in Altcoins.
Currently, the overwhelming majority of crypto lending is transacted with BTC, ETH, and stablecoins. Bonded has identified nearly $50 Billion locked up in altcoins that remain unserved and is creating an array of financial instruments to access these virtually stranded assets so users may lend altcoins, access lines of credit, as well as bundle assets and participate in risk mitigated indices.
“Speculation drives much of the excitement around DeFi but the beating heart is the ability to experiment with trustless incentives and governance over protocols that people care about, in order to build sustainable and stable yield instruments,” Paul Mak, Co-Founder and CEO of Bonded.
Bonded’s contributors include a robust mix of venture funds, blockchain entrepreneurs, and prominent crypto community leaders. Their participation is sure to drive awareness and provide needed runway for Bonded to execute on their initial roadmap.
Slated to launch their inaugural product this quarter, Bonded foresees yield opportunities for scores of promising projects that have existing liquidity and active communities but don’t have the needed exposure to lending and borrowing platforms like Compound, Aave etc. Ultimately, Bonded believes that providing DeFi benefits on a broader scale can serve to stabilize and add value to the asset class on the whole.
