CDS Startups Davos Protocol Raises $500,000 in Pre-Seed Round
Startups

Davos Protocol Raises $500,000 in Pre-Seed Round

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DeFi Startup Davos Raises $500,000 in Pre-Seed Round
DeFi Startup Davos Raises $500,000 in Pre-Seed Round

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!

Davos Protocol Website
Davos Protocol Website

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”

SOURCE 

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Written by
Burak DANACI

The author focused on financial markets after graduating from Anadolu University, Department of Economics. After meeting with blockchain technology in 2019, he produces content on youtube and twitter in this field.

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