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Liqwid Labs - Seed
Overview
Funding Date
November 29, 2022
Financing amount
$2.7M
Valuation
--
Catagory
Subcategory
About Liqwid Labs - Seed
Liqwid Labs has raised $2.7 million in a seed round led by cFund, an early-stage sector-agnostic venture capital firm in the blockchain industry that is anchored by Cardano founding entity IOG and managed by Wave Financial. The capital enables Liqwid Labs to complete development of ancillary tooling for the money markets, develop open source contributions for Cardano DAOs and smart contract engineers, map out our wider vision for DeFi on Cardano, and implement organizational resource frameworks to make this future-state vision real.
Liqwid core team completed a seed round fundraise with crypto funds who invested in LQ governance tokens at a fixed price, with a vesting schedule spread over 24 months linearly and includes a 4 month cliff starting at mainnet launch. The core team’s 24 month linear vesting schedule starting at mainnet launch remains unchanged.
Alongside cFund, participating funds included Shima Capital, Animoca Brands, Altonomy, Genblock Capital, Bitrue, Optim DAO and Double Peak.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | -- | -- | 7 | info@cfund.vc | ||
| Fund | United States of America | -- | 180 | -- | ||
| Corporate | Hong Kong | 2014 | 314 | -- | ||
| Fund | United States of America | 2018 | 27 | contact@altonomy.com | ||
| Fund | United States of America | 2018 | 102 | info@genblock.capital | ||
| Corporate | Singapore | -- | 1 | -- | ||
| DAO | Unknown | -- | 1 | -- | ||
| Corporate | Unknown | -- | 11 | -- |
Founders & Team
Dewayne Cameron
Company Profile / Project Introduction
Liqwid Finance is a non-custodial liquidity protocol for lending and borrowing with liquid staking on Cardano. To borrow, users must first supply an asset supported by the protocol to be used as collateral. When users supply assets to a market they mint qTokens at the prevailing exchange rate.
By minting qTokens, users earn interest through the qToken’s exchange rate (to the underlying asset, e.g. qADA - ADA), which increases in value compared to the underlying asset, and are able to use qTokens as collateral.
Completing actions with qTokens are the leading source of interacting with Liqwid markets; when a user supplies assets (i.e. mints qTokens), borrows, repays a borrow, withdraws (i.e. burns qTokens), or liquidates a borrow they will utilize the qToken minting policy.