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Ion Protocol - Undisclosed
Overview
Funding Date
August 12, 2024
Financing amount
$4.8M
Valuation
--
Category
Subcategory
About Ion Protocol - Undisclosed
Ion Protocol has raised $4.8 million in funding round from gumi Capital Cryptos, Robot Ventures, BanklessVC, NGC Ventures, Finality Capital and SevenX Ventures, among others, bringing its total funding to $7 million. The fresh capital will be used to support and develop a native yield primitive called Nucleus, designed to help address monetization problems for rollups and appchains, potentially helping to foster new decentralized application use cases in their ecosystem.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | Japan | 2018 | 56 | [email protected] | ||
| Fund | United States of America | 2019 | 114 | [email protected] | ||
| Fund | Unknown | 2022 | 35 | -- | ||
| Fund | Singapore | 2017 | 196 | [email protected] | ||
| Fund | -- | -- | 28 | -- | ||
| Fund | China | 2020 | 108 | [email protected] |
Company Profile / Project Introduction
Ion Protocol is a Collateralized Debt Position (CDP) issuer, designed to accept deposits in different types of Liquid Staking Tokens (LSTs) and staked asset-backed positions (e.g., EigenLayer restaking positions, and more…). By depositing these assets users are able to mint a synthetic representation of ETH (we call this "$allETH) against their collateral position. With different loan underwriting parameters for each type of collateral that is deposited into the protocol, users have the freedom to deposit a variety of staked/restaked collateral that they can mint $allETH from.