Decentralized Prime Brokerage Terminal Blueberry Protocol Raises $2.5M

Ledger
Decentralized Prime Brokerage Terminal Blueberry Protocol Raises $2.5M
Ledger


TLDR

Blueberry Protocol raises $2.5M in Series A funding led by White Star Capital
Blueberry provides decentralized access to generalized leverage for DeFi on Ethereum
The protocol offers enhanced opportunities through advanced risk management and higher leverage
The funding will be used for team expansion and increased security budget
Blueberry is offering early access to its native BLB tokens via Fjord Foundry and PancakeSwap events

Blueberry Protocol, a decentralized prime brokerage terminal, has successfully raised $2.5 million in a Series A funding round led by White Star Capital.

The investment round also saw participation from notable investors such as Varys Capital, SNZ Capital, Alchemix DAO, Aquanow, members of Dewhales, members of DCD, GateCap Ventures, Nayt Trading, and MonkeVentures.

The Panama City-based startup aims to revolutionize the DeFi landscape by providing decentralized access to generalized leverage for DeFi on Ethereum

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. Blueberry Protocol offers enhanced opportunities through advanced risk management and higher leverage compared to traditional prime brokerage services.

By integrating cutting-edge, transparent risk management tools with a sophisticated leverage framework, the protocol seeks to expand accessibility, boost capital efficiency, and improve profitability for a wide variety of DeFi users.

The DeFi sector has experienced significant growth in recent months, with the total value locked (TVL) recently recapturing the $100 billion mark.

The recent approval of Ethereum ETFs has sparked renewed interest in the space from traditional finance, positioning Blueberry to lead this new wave of institutional DeFi adoption.

As institutional participation increases, flexible prime brokerage services become crucial for enabling secure and efficient trading, providing liquidity, and managing portfolios in the crypto market. Blueberry Protocol caters to both conservative whales and high-stakes degens.

Cameron Coombes, Vice President at White Star Capital, expressed his belief in the core ethos and purpose of decentralized finance, which is to allow users from all over the globe to interact and enact financial transactions in a self-sovereign and permissionless way.

He stated that Blueberry addresses current hurdles to this vision by providing an infrastructure from which these users can more easily access healthy and efficient leverage, which can be deployed across DeFi.

The funding will be used for team expansion and increased security budget, ensuring that Blueberry Protocol can continue to develop and innovate its platform while maintaining the highest security standards.

Darius Askaripour, Managing Partner at Varys Capital, added that Blueberry is redefining prime brokerages, allowing users to maximize yields from digital assets or treasury yields. He emphasized that the Blueberry Foundation, backed by a DeFi-native team, will be instrumental in developing essential building blocks for DeFi.

Jonathan Thomas, CEO and Co-Founder of Blueberry Protocol, expressed his enthusiasm for the investment, stating that it is a testament to the groundbreaking value proposition Blueberry Protocol brings to the DeFi landscape.

By delivering industry-leading Loan-to-Value (LTV) ratios of up to 20x, Blueberry is poised to revolutionize on-chain trading and yield strategies. With the newly acquired funds, the company plans to further enhance its platform, expand its reach, and continue to lead the charge in reshaping the future of the digital economy.

Blueberry is also offering early access to its native BLB tokens via Fjord Foundry and PancakeSwap events. These events are crucial milestones in decentralizing the Blueberry protocol and fostering a strong, active community.



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