Vesta Finance Angel Round Was A Success
Two of the largest problems facing DeFi today are capital efficiency and decentralization. With stablecoins this is especially relevant. The most popular stablecoins on Ethereum and other chains today are either heavily overcollateralized, limited in minting size, and/or backed by centralized collateral seizeable by governments and institutions. Further, with transaction fees reaching new all-time highs on Ethereum L1, it has become untenable for most users to mint and use stablecoins on Ethereum’s mainnet.
Vesta Finance was created to tackle these problems through a decentralized, high LTV/low collateralization ratio yet still overcollateralized, and L2-first stablecoin. Feel free to visit their introduction blog to learn more about their approach, vision, roadmap, and what sets them apart from previous designs.
Vesta Finance is thrilled to announce the completion of a small and carefully crafted fundraising round. Funds acquired in this diversification will be allocated to onboarding existing contributors full-time and supporting new contributors well into the future.
The round’s participants include: Tetranode, DCFGod, Fiskantes, Not3Lau Capital, Sam Kazemian, 0xmons, Wangarian, OmniscientAsian, PopcornKirby, Nick Chong, Calvin Chu, Jae Chung, Anthony Sassano, Eric Conner, Mariano Conti, Shuyao Kong, Feir, and many more.
Vesta’s contributors were careful in selecting the group of partners for this round, optimizing for community-first investors who have a reputation for contributing ideas and resources, not just capital.
To fully align the interests of its strategic partners, their coins will be vested under the same terms as the contributors’ coins. Further, the round was kept purposefully small at only 6% of the total supply to limit the centralization of coins and ensure that ample tokens would be left over for future contributors and strategic economic action initiatives. A majority of DeFi projects allocate 20–25% of their token supply to pre-launch partners.
ABOUT Vesta Finance
Vesta Finance is a Ethereum-based over-collateralized lending protocol.
RESOURCES
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