'Aurigami to Grow Aurora-Based Lending Protocol with its $12 Million Warchest ' web3.0 technology
, a lending protocol on Aurora has raised a total of $12M via private and public sales. Over $9.5M of the total funding came from private investors. The world's leading venture capital firms, such as Dragonfly Capital and Polychain Capital, were the joint round leaders. Mechanism Capital, Amber Group, Coinbase Ventures, Jump Crypto, Alameda Research, Lemniscap, and others are just some of the other funds that have joined.
A lender may make money off a loan made on the DeFi platform if and when the borrower repays the loan. With no middlemen involved, the whole financing procedure may go smoothly. Loans made using native tokens are almost 100% collateralized. Users who seek to borrow money will thus be required to submit a guarantee. However, in the DeFi environment, the guarantee is in the form of cryptocurrency, which is more valuable than the loan itself, in contrast to the centralized banking system.
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