MH Ventures, one of the world's leading crypto and blockchain venture capital firms, has participated in the seed round funding for a DeFi platform, LEND.
LEND is a decentralized, multi-chain DeFi platform that utilises blockchain technology to revolutionize the lending and borrowing process. It is the first platform to distribute fees among its token holders. This new approach offers a highly innovative and rewarding experience for all involved.
The funding will help LEND platform to continue to grow and scale its business. The company also plans to expand its team and reach new markets.
Kamran, Co-Founder & Partner at MH Ventures, said, "DeFi has definitely devolved over the last 2 years since the likes of Uniswap, Aave and others came about, because most DeFi protocols are purely “farm and dump”. We felt that the ecosystem LEND has established with bringing a true extraction of “value” from protocol to holders was a key component to our investment decision.
For DeFi protocols to survive, thrive and maintain longevity, creating an ecosystem of this nature is imperative, and we are strong believers that LEND can not only set the trend in the evolution of DeFi protocols but also be a protagonist in gaining a great share of the market over the coming years. Real yield and protocol revenue sharing across multiple chains are the way of the future for DeFi."
The LEND protocol allows individuals and protocols to access financial services in a decentralized, permissionless, transparent, and non-custodial manner. Many people in the crypto community consider it to be a natural extension of TEN Finance.
The LEND platform uses algorithms to determine interest rates for various assets based on current supply and demand. Both borrowers and lenders can interact and use the protocol to earn and pay a floating interest rate.
With LEND, you have the opportunity to borrow some of the most liquid assets in the market, including Bitcoin, Ethereum, and various stablecoins. By adding assets to LEND markets and staking your LEND tokens, users can earn passive income and a share of the protocol's revenue. This is a great way to earn passive income while supporting the LEND network.
Mr. TEN, Co-Founder of LEND protocol, said, "We are very excited to have such an esteemed investor as MH Ventures on board with LEND. We feel that the value they bring to our protocol is immensely important from receiving the type of support that all start-ups need. Most importantly, MH Ventures share the values and vision that we are so keen on, which is to build decentralized protocols that bring value to users."
MH Ventures has teamed up with some of the most well-known names in the crypto and blockchain industries, including LEND, Magpie, Web3Port, Sonic Wallet, SmartToken Labs, Decaf, Tatsumeeko, Wincast, etc. They are passionate about investing in and supporting disruptive technologies and the people behind them. Their mission is to identify and invest in the best projects that have the potential to change the world for the better.
LEND team is dedicated to creating a fair and transparent lending platform for all users. They aim to incentivize community involvement and create a strong, collaborative ecosystem by sharing revenue fees with token holders.
They are excited to be the first lending protocol on Cube Network and BNB Chain and look forward to building a successful platform with the support of our community.
For information, click here.