Solv Protocol raises over $ 4 million in one round to launch DeFi project

Solv Protocol is proud to announce the completion of a Series A round led by preeminent venture capitalists Blockchain Capital, Sfermion and gumi Cryptos Capital.

Solv raises over $ 4 million in a round to bring gift card funding to DeFi

Solv Protocol recently announced that Round A raised $ 4 million from leading venture capitalists like Blockchain Capital, Sfermion and gumi Cryptos Capital. These funds enable the project to get off to a groundbreaking start in the field of pioneering “document financing” for DeFi. Solv is a DeFi protocol that allows users to coin and trade NFTs that represent financial property (also known as coupons).

Solv Protocol was also raised by platforms such as DeFi Alliance, TheLao, CMT Digital, CMSholdings, Apollo Capital, Shima Capital and SNZ Holding with Spartan Group and Axia8 Ventures as co-investors.

Immediately after inception, the project received $ 1 million in funding from Spartan Group, IOSG Ventures, Hashed, etc.

Solv Protocol co-founder Mike Meng said:

“In the more than a year since its inception, Solv has built a strong network of investors and partners around the world who are much-needed support for the future of vouchers. We will therefore continue to work on making DeFi 2.0 the “Coupon Era”.

Blockchain Capital General Partner Spencer Bogart said:

“The vast majority of financial contracts in existence today are highly secure, which makes the ERC-20 token an unsuitable standard for getting these contracts into the chain. Leveraging the expressiveness of NFT metadata, the Solv teams are working to build a trustworthy DeFi infrastructure and break new ground for document finance. ”

“Sfermion is incredibly proud to work with the Solv team to develop the tools and primitives required for the future of finance NFTs. With its new ERC-3525 standard, the NFT can now be a semi-alternative and open up a lot of funding for previously unexplored applications. ” Sfermion General Partner Dan Patterson said

General Partner of Gumi Cryptos Capital Rui “Ray” Zhang:

“NFT is the perfect vehicle for displaying structured financial products on-chain. The SOLV team created the first standards that make it possible to build these products – such as bonds, convertible bonds and usable tokens – safely and efficiently. “

Solv will use the funds from this round to launch new coupons, expand globally, and recruit more developers and designers. One of the missions of the project is to build a voucher ecosystem for DeFi users and to bring the DeFi infrastructure to maturity.

Via the Solv Protocol

Founded in 2020, Solv Protocol is a decentralized marketplace for mining and trading NFTs, which are financial property, also known as “coupons”. Solv aims to solve one of the most pressing problems in the emerging DeFi space – the lack of an efficient and flexible tool to visualize complex financial contracts. And by putting vouchers on the table, Solv fills that void.

The Solv team includes blockchain evangelist and opinion leader, experienced architects in FinTech & Blockchain and an experienced DeFi and token researcher.

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