Revenge of the g(r)eeks! Archimedes scores $4.9M seed
Summary
Its certainly not in Miami, at least.Local crypto lending startup Archimedes has just announced its $4.9 million seed round fundraise, led by Hack VC. Archimedes throws an extra screw into the equation which multiplies a users original yield opportunity leverage.The company, which is open source, was founded last year by Boca Raton resident Tomer Mayara, Derek Moen and Oz Rabinovitch. With these fees paid by the borrowers, Archimedes is then able to close the loop and pay the lenders for lending their money, the company said.DeFi has been a major focus in the South Florida crypto and fintech spaces. It was the theme of last years Permissionless conference in Palm Beach, which attracted thousands of diamond-handed HODL-ers, whales, and traditional financiers alike. Web3 frens and degens land in West Palm Beach for Permissionless conference OneOfs Lin Dai looks beyond the crypto winter to give us a glimpse of the future of digital assets