Polygon Co-Founder Sandeep Nailwal and Polygon Ventures invested $500,000 in Davos protocol, a new decentralized finance protocol, in a pre-seed funding round!
Services of Davos Protocol
According to Davos protocol, the company will offer a new stable crypto asset for MATIC tokens, as well as collateralized borrowing and staking. In return, users will receive the liquid staking token ankrMATIC.
In addition, the company said that stable assets, known as DAVOS, can be integrated into other protocols, pools, and Decentralized Exchanges to help users achieve higher compound returns. The company achieves this by offering a new stable asset in combination with collateralized borrowing and staking.
Davos’ Inclusive Goal
Users can collateralize MATIC tokens, receive a liquid staking token ankrMATIC of equal value, borrow against their staked MATIC, repay their loans, and earn Davos fixed assets. They can also integrate them into other protocols, DEXs, and pools. The overarching goal of Davos is to allow users to gain exposure to multiple DeFi protocols, platforms, and pools while unlocking the liquidity of their staked assets.
Varun Satyam, Founder and CEO of Davos, said: “The overarching goal of Davos is to allow users to get exposure to multiple DeFi protocols, platforms, and pools all the while unlocking the liquidity of their staked assets. The creation of a new Stable Asset – ‘DAVOS’ – will serve as a means to incentivise participation and adoption and enable crypto holders to become a part of a new decentralised economy of scale”
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