Tulip Protocol raises $5M from Jump Capital, Alameda Research, Amber Group, Cadenza Ventures & others
Tulip Protocol is thrilled to announce that they had raised $5M in its strategic investment round led by Jump Capital, and Alameda Research.
With participation from Amber Group, Cadenza Ventures, Fisher8 Capital, CMS Holdings, Rarestone Capital, FinTech Collective & DV Chain. They also received support from angels including DeFi OG Darren Lau, eGirl Capital’s Fjvdb7, Orthogonal Trading Cofounder Joshua Green, Drift Protocol’s Cindy Leow & John/Noah Dummett.
— Saurabh Sharma, Partner at Jump Capital.
“Navigating DeFi could be daunting for new users who most of the time enter the price through the lure of yield farming, Tulip’s aggregation and optimization layer, as well as user-friendly interface, streamlines the farming experience while slowly graduating users onto sophisticated offerings all on the same platform.”
Tulip Protocol is the first and premier yield aggregator for Solana with over 800MM in TVL. The protocol currently offers 3 products, auto-compounding vault strategies, token lending, and leveraged yield farming. Future updates will see collateralized borrowing, managed vault strategies, and $TULIP token staking.
Resources from the raise will go to further development of the protocol, starting with the expansion of the team. Tulip Protocol is currently hiring junior devs with web3/Solidity experience, RUST experience is a bonus. They will also make details about the protocol treasury from vault fees public.
About Tulip Protocol
Tulip Protocol is the first yield aggregation platform built on Solana with auto-compounding vault strategies. The dApp (decentralized application) is designed to take advantage of Solana’s low-cost, high-efficiency blockchain, allowing the vault strategies to compound frequently. This allows stakers to benefit from higher APYs without requiring active management.
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