Seed capital was led by Pantera Capital and included Scaramucci-affiliated SALT Fund and Santander Group-affiliated venture capital firm Mouro Capital.
DeFi Platform M ZERO Exits Stealth Mode With $22.5M Funding Round
M ZERO, a decentralized infrastructure layer for transferring digital assets, emerges from stealth mode with a strong $22.5 million seed round to become a pioneer in decentralized finance (DeFi).
Led by players with backgrounds in both traditional finance and decentralized communities like MakerDAO, the M ZERO platform takes an institutional approach to DeFi. The seed round was led by Pantera Capital, with participation from Road Capital, AirTree, Standard Crypto, The SALT Fund (part of the SkyBridge/Anthony Scaramucci family), ParaFi Capital, Distributed Capital, Kraynos Capital, Earlybird, Mouro Capital (the Suntander Group venture capital divisions associated with).
After the collapse and bankruptcy of “centralized financial companies” over the past year, DeFi is steadily evolving to become more institutional and scalable. M ZERO Labs CEO Luca Prosperi says the protocol will do for institutions value transfer what others have done in the past to create a neutral infrastructure for payments to flow.
“You can think about M ZERO as an infrastructural overlay on Ethereum, where large providers of assets and liquidity around the world can exchange value, and builders can create solutions. Virtuous governance will be crucial for this, and we are developing the rules and code for this to be as decentralized as possible from day zero. M ZERO will probably have a governance token, but its initial distribution could target large and sophisticated institutions rather than the general public. The infrastructure will have an open architecture, potentially acting as a connector to some existing DeFi platforms” – Prosperi said in an interview.
“We are researching the development of a decentralized protocol, but the decentralized governance that we have in mind will be significantly different from the model based on airdrops, open Discord channels or forums, and anonymous participation. You could think about it as a consortium of sophisticated parties rather than a [decentralized autonomous organization] in that sense.” – he later added.
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