Term Labs, Inc. Announces $5.5 Million in Strategic Funding to Bring Stability and Predictability to On-Chain Lending
Summary
SAN DIEGO, July 9, 2024 /PRNewswire/ -- Term Labs, Inc., a leader in blockchain R&D, is proud to announce the closure of a strategic funding round totaling $5.5 million. "The protocols success in achieving early institutional adoption is due in large part to a focus on security, transparency, and economic risk mitigation," said Dion Chu, Founder and CEO of Term Finance. There is demonstrated demand to borrow at fixed rates against DeFi native assets, and the rise of RWAs and tokenization represents a large untapped opportunity for future growth," said Ken Deeter, General Partner at Electric Capital.Earlier this year, in partnership with MatrixPort, Term Finance piloted two auctions backed by permissioned RWAsa market McKinsey estimates will reach $2 trillion by 2030.As part of its ongoing commitment to fostering community engagement, Term Labs is introducing an invite-only rewards program aimed at rewarding early adopters for their participation in the protocol. Season 1 of the rewards program is expected to run through the summer into early fall, providing ample opportunity for users to engage and benefit from their contributions to the protocol. "This latest round of funding, combined with the rewards program, will help us capitalize on our early traction and drive the next wave of adoption, advancing our mission to realize predictability and stability in the DeFi ecosystem.