Bastion Protocol Raises Seed Round Led by ParaFi Capital

Published on: 24.03.2022

Bastion Protocol seed funding round was led by ParaFi Capital, with participation from Jane Street, Digital Currency Group, Crypto.com, CMS, and Manifold Trading.

Angels investors include: Illia Polosukhin, Founder of NEAR; 0xMaki; Darren Lau; 0xRooter, Founder of Solend; Jeffrey Kuan, Head of Business Development at Terraform Labs; Nick Chong; 0xSami, Founder of Redacted Cartel; Peter Mitchell and Jasper De Gooijer, Cofounders of Flux Protocol; Matt Lockyer; 0xSisyphus; Statelayer; Ayush Menon; Tristan Frizza; John Wang; and Fomosaurus.

Bastion has seen explosive growth, reaching $200 million in Total Value Locked within just 24 hours of launch. We plan to bring innovative tokenomics to DeFi Lending, including isolated pools, veTokens, time-based rewards, and leveraged yield-farming.

its investors strongly align with Bastion Protocol;s mission: bringing innovations to DeFi lending and growing the Aurora ecosystem.

The funding will be used to build out the dream team. Bastion Protocol are hiring all devs, a BD lead, and Community Lead. The opportunity to be the first employee of one of the most important DeFi primitives on Aurora is still open.

ABOUT Bastion Protocol
Bastion is a decentralized lending and borrowing protocol built on Aurora, NEAR’s EVM-compatible layer. Building on Aurora enables Bastion to create an autonomous interest-rate engine with superior capital efficiency, fast transactions, ultra-low transaction fees, precise liquidations, and harness the underlying UX benefits of NEAR.

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