Pledge, a decentralized lending protocol, has raised $ 3 million for a cross-chain ecosystem focused on long-term financing.
The investment round was led by Palo Alto-based venture capital firm DHVC, with additional participation by UC Berkeley professor Gary Labranch and Stanford University community members Ray Wong and Tosten Wendell. The funding will be used to help Pledge “become the best lending platform in the cryptocurrency industry.”
Pledge was founded by a group of blockchain-focused researchers, including Professor David Tse of Stanford University, Nicole Chan, Ray Wong, and Tosten Wendell. It aims to facilitate long-term financing for cryptocurrency holders using the Binance Smart Chain. Researchers say it’s not yet covered by the industry. The protocol allows users to diversify their portfolios on non-cryptocurrency assets without being exposed to fluctuations in interest rates.
The protocol is run by Pledge Token (PLGR), which has a supply of 3 billion tokens. Currently, there is no market data for PLGR.
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