Liquidium Raises $2.75 Million to Develop Bitcoin-Based DeFi
Date: 2024-07-19 Author: Oliver Abernathy Categories: BUSINESS
Successful Seed Investment Round
Lending platform Liquidium has completed its seed round, raising $2.75 million. This amount is aimed at strengthening the company’s position in the DeFi (decentralized finance) ecosystem based on Bitcoin. Leading investors such as Wise 3 Ventures, Portal Ventures, Asymmetric Capital and others have supported the initiative, recognizing the potential of the platform.
The seed round attracted an impressive list of participants, including funds such as AGE Fund, NGC Ventures, CMS Holdings, Newman Capital and VidenVC. Also among the investors are well-known business angels, including Dingaling, Frank DeGods, Beanie, Cirrus, ThreadGuy, FAR (co-founder of Taproot Wizards), Anthony Newman, Dr. Jingle, NFTboi, CryptoSlate CEO Nate Whitehill and Kraken's Dan Held.
Strategy and Vision
Liquidium CEO, Robin Obermeier, noted that the funding will help the platform achieve a vision similar to Aave, but based on Bitcoin. “I envision Liquidium as a Bitcoin-based DeFi lending hub with full liquidity pools that would offer the same capabilities as Aave, but based on native Bitcoin,” Obermaier said.
Aave is the largest lending protocol on Ethereum, with over $13 billion in assets under management, according to DeFillama. Liquidium aims to achieve similar success in the Bitcoin ecosystem.
Development and Technological Innovation
Liquidium has already established itself as the leading DeFi platform for peer-to-peer Bitcoin lending. The platform allows users to borrow or lend Bitcoin using Bitcoin-based assets such as Ordinals and Runes as collateral. This process uses Partially Signed Bitcoin Transactions (PSBT) and Discreet Log Contracts (DLC) on the Layer 1 Bitcoin network.
It is noteworthy that the protocol already has integration with Unisat and Leather wallets. In the future, there are plans to include BRC-20 assets and additional wallets such as OKX and Phantom, which will further increase accessibility and expand the Bitcoin ecosystem to new markets.
Expansion and Future Plans
The seed funding aims to support the growth of Liquidium as the leading Bitcoin-based lending protocol. This is in line with the recent launch of its borrowing and lending services Rune, demonstrating the company's commitment to continuous improvement and industry leadership.
The successful $2.75 million investment round underscores Liquidium's importance in the Bitcoin and DeFi ecosystem. With significant funding raised and the backing of influential investors, Liquidium is poised to realize its ambitious plans to create a platform that offers unique experiences for users seeking to harness the benefits of Bitcoin-based decentralized finance.
