DeFi
DeFi Prime Broker Blueberry Raises $2.5 Million in Series A
Key takeaways
- Blueberry Protocol has raised $2.5 million in Series A funding led by WSC and Varys Capital.
- Blueberry provides decentralized access to widespread leverage for Ethereum-based DeFi assets.
- By integrating advanced risk management tools and a sophisticated leverage framework, Blueberry seeks to improve accessibility, capital efficiency, and profitability for DeFi users.
Blueberry Protocola decentralized brokerage terminal, raised $2.5 million in a Series A funding round led by White Star Capital and Varie Capital. The investment round also attracted other high-profile investors including Capital SNZ, Alchemix DAO, Aquanowmembers of Whalesmembers of the DCD, GateCap Ventures, Nayt TechnologiesAnd Monke Ventures.
The funding comes as Blueberry Protocol aims to redefine leading brokerages in the decentralized finance (DeFi) space, providing users with access to widespread leverage for DeFi on Ethereum. The move is expected to open up new opportunities through advanced risk management and higher leverage compared to traditional prime brokerage services.
The Blueberry protocol integrates risk management tools with a sophisticated leverage framework, seeking to expand accessibility, increase capital efficiency and improve profitability for a wide range of DeFi users. With the recent resurgence of the DeFi sector, which has now surpassed $100 billion in total value locked (TVL), and the approval of Ethereum ETFs, Blueberry finds itself well-positioned to lead institutional adoption of DeFi.
“As institutional participation increases, flexible prime brokerage services become essential to enable secure and efficient trading, provide liquidity and manage portfolios in the crypto market. Blueberry Protocol is aimed at both conservative whales and high-stakes degens,” the company said in a statement.
Cameron Coombes, vice president of White Star Capital, highlighted the importance of Blueberry’s mission, saying: “We believe that the fundamental philosophy and goal of decentralized finance is to enable users around the world to interact and transact financially autonomously and without authorization.
Darius Askaripour, managing partner at Varys Capital, highlighted the potential impact of Blueberry’s initiatives, noting: “Supported by a native DeFi team, the Blueberry Foundation will be instrumental in developing the essential building blocks for DeFi. »
Jonathan Thomas, CEO and co-founder of Blueberry Protocol, said: “By offering industry-leading loan-to-value (LTV) ratios of up to 20x, we are poised to revolutionize on-chain trading and yield strategies.
Blueberry will primarily allocate the new funds to expanding the team and strengthening security measures. Blueberry Protocol also announced plans to offer early access to its native BLB tokens through the Fjord Foundry and PancakeSwap events.
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