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King34Maine

Decentralized Lending Platform Dharma Labs Raises $7 Million From 7 VCs Including xPring

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Link to Coinbase Article: Dharma Labs Raises $7 Million From Green Visor, Coinbase and Polychain

"If ethereum is the protocol for decentralized global finance, then it’s going to need a lending tool built just for crypto. That’s the thesis of Dharma Labs, which built the Dharma protocol for decentralized lending businesses. Its first product, Dharma Lever, is in a closed alpha release now, enabling loans for traders and large crypto holders."

"Now the startup has secured $7 million to build out the product in a round led by Green Visor Capital, a fintech-focused venture capital firm. Other participants include Coinbase Ventures, Polychain Capital, Y Combinator, Passport Capital, Blockchange and Ripple’s Xpring fund."

From the Website:

"Dharma is a platform for building globally-accessible lending products using programmable, tokenized debt. It can support virtually any kind of lending product you can imagine. It is flexible, extendable, and live on the Ethereum Mainnet."

Medium Article by Danny Aranda:

Investing in Dharma

Edited by King34Maine

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3 minutes ago, Phintech said:

Sounded good right up until Ethereum.  Their scaling issues are a huge concern.

LOL....I was thinking the same thing!!!  It is a Coindesk article though. So, you know they love to give shade to anything Ripple/XRP related. At-any-rate, I think that the actual platform will be blockchain agnostic. I believe they initially started out on Ethereum similar to the Securitize STO platform. I think with Ripple's deep penetration into the Banking/Finance sector this platform could be extremely beneficial.

Edited by King34Maine

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