Solana-based DeFi protocol Hubble raises $10M, prepares for mainnet launch
Crypto heavyweights including Three Arrows, DCG, Delphi Digital and Crypto.com Capital joined Hubble Protocol’s funding. The Solana (SOL) network is ready to see the mainnet launch for another decentralized finance (DeFi) protocol, aimed at Web3 development and backed by bigshots from the crypto industry.Hubble Protocol, a project aiming to develop a censorship-resistant crypto-backed stablecoin among other DeFi services, has raised $10 million from Three Arrows / DeFiance Capital, Delphi Digital, Digital Currency Group (DCG), Crypto.com Capital, ParaFi, Jump Capital, Decentral Park....
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Decentralized finance (DeFi) on Solana has been growing at a massive rate. One project to look out for, Hubble Protocol, will be making a huge addition to the DeFi offerings on Solana when it launches a stablecoin borrowing platform (being called “the MakerDAO of Solana”) on Mainnet Beta this January 28th, 2022. Before the launch of Hubble’s stablecoin, USDH, the protocol will hold three separate HBB token launches on three different launchpads: SolRazr (link), Solanium (link), and DAO Maker (link). There are a ton of reasons why Hubble’s IDO will be the hottest IDO in January–one that....
While the blockchain network Solana’s native token has skyrocketed in value this week jumping 31.4%, the Solana-based perpetual swap platform Drift Protocol announced it raised $3.8 million from strategic investors. At the same time, Drift announced the launch of its alpha mainnet after several months of “grind, hard work, debugging, building security guardrails.”
Solana Perpetual Swap Exchange Drift Reveals Mainnet Launch, Raises $3.8 Million
While centralized exchanges like Binance, FTX, Bybit, and Bitmex offer crypto-based perpetual swaps, decentralized....
The decentralized finance (DeFi) project Hubble Protocol has recently closed a seed funding round that raised $3.6 million. This early support for Hubble comes from several major and influential names in the crypto industry who are key players working to expand DeFi on Solana, which is currently the world’s fastest blockchain. Participants in Hubble’s early private round include Jump Capital, Delphi Digital, CMS, Mechanism Capital, Spartan, DeFi Alliance, Three Arrows / DeFiance Capital, Digital Strategies, and Decentral Park Capital. Each of these backers has thrown their weight behind....
PRESS RELEASE. LONDON | August 30, 2022 – Hubble Protocol, home of the USDH stablecoin, has launched Kamino Finance: the first concentrated liquidity market maker (CLMM) optimizer of its kind on the Solana blockchain. Kamino Finance, launching initially on next-generation decentralized exchange (DEX) Orca, will allow users to earn higher yields in a fully automated way simply by depositing their crypto into vaults linked to Orca’s liquidity “whirlpools.” Kamino Finance builds on the advantages of CLMM’s, which reduce slippage and facilitate larger trades....
On Wednesday, the team behind Solana-based decentralized finance (defi) margin protocol Marginfi, announced Mrgn Labs has raised $3 million in seed funding from investors. With the recently acquired funds, Marginfi aims to build the first cross-margining engine on the Solana blockchain. Mrgn Labs Gets $3 Million in Funding From Strategic Investors Mrgn Labs has revealed the company has raised $3 million from investors in order to bolster defi margin trading, according to a press release announcement on Wednesday. Mrgn Labs is the team behind the defi margin protocol called Marginfi, a....