Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: Mahindra on July 06, 2021, 05:01:00 PM
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Solrise Finance is a DeFi protocol designed to support managed portfolios on the Solana network. The platform allows investors to allocate capital across several actively managed funds.
Solrise Finance, a decentralized finance (DeFi) protocol for the Solana network, has successfully concluded a $3.4-million raise for its non-custodial asset management platform, offering further evidence that the venture capital world continues to seek broad exposure to the digital asset market.
Some of the biggest venture capital names in blockchain supported the Solrise funding round, including Alameda Ventures, Delphi Digital and CMS Ventures. Jump Capital, ParaFi Capital, DeFi Alliance, Reciprocal Ventures and SkyVision Capital rounded out the participants.
The capital raise will go toward making DeFi more accessible to a wider class of investors, Solrise announced Tuesday. This includes reducing adoption barriers like high transaction costs and a lack of clarity around custody solutions. Specifically, Solrise will provide investors with more streamlined access to “cross-section assets,” including synthetic, Solananative and off-chain assets.
Santiago Santos, a general partner at ParaFi Capital, said Solrise is his company’s first, but certainly not last, DeFi investment in Solana, adding. information more (https://cointelegraph.com/news/defi-on-solana-solrise-raises-3-4m-for-non-custodial-asset-management)
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In a single month, Synthetix hit roughly one billion in Synth trading volume. That's 15% of our total tracked volume, 6.75 Billion, in one month! This is a major milestone as it reflects the tangible growth happening to the protocol. Exciting times,” Synthetix tweeted on June 30. In the past week, Synthetic has posted 69.4% gains.
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The Solana ecosystem is growing surprisingly fast, and new DeFi-related projects on Solana are powering this emerging ecosystem. Hopefully we will see more DEXs on Solana soon as seen on Ethereum & BSC.
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This Solrise is sure to have an extraordinary capacity effect from Solana, which of course also Solana will be able to continue to strive to be the best for the future of Solana's ecosystem.
Solrise will also be very open to Solana's DeFi project and maybe in the future it will also be open to the NFT market that is on the Solana blockchain.
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DeFi in cryptocurrency projects is really needed because I believe that in the future a simple and easy-to-understand financial system will be the DeFi project, especially if it is combined with Solana's project so that the future of the DeFi project will feel very simple and easy. .
An example is SolRise because now Solrise is so pretty good in the cryptocurrency market that it will be very easy to take profits because Solrise is on the blockchain of the Solana coin.