Yield Protocol Closes $10 Million From Funding Round Led By Paradigm

Yield Protocol conducted a series of seed funding round that results to raise a multi million dollar funds. Yield Protocol announce the close of a $10M in Series A funding round led by Paradigm. This round is a continuation of a deep partnership with the Paradigm team that began with their seed investment and incubation of Yield.

In addition, the funding round made successful with the force showed by the following investors such as Framework Ventures, Symbolic Capital Partners, CMS Holdings, Variant, and the DeFi Alliance.

This added capital and new partners will help Yield Protocol to keep fueling its growth as they prepare to launch version 2 of the Yield Protocol later this year, which will feature some powerful changes that they think will make Yield even more useful.

Version 2 of the Yield Protocol will extend it to new use cases by enabling new collateral assets and new borrowable assets. The upgraded protocol will be gas-efficient and composable to help achieve our goal of making fixed-rate borrowing a fundamental building block of decentralized finance.

Yield Protocol will also be launching DeFi’s first fixed-rate integration with MakerDAO. Once the integration is complete, MakerDAO will be able to lend Dai via Yield Protocol at fixed-rates chosen by its governance process. This integration will create a new, stable source of lending income for MakerDAO, encourage additional adoption of Dai, and give MakerDAO new tools to manage the Dai peg.

ABOUT Yield Protocol
Yield is an Ethereum protocol to bring fixed-term, fixed-rate lending and interest-rate markets to decentralized finance.

RESOURCES
Medium