London, December 16, 2021 Hubble Protocol, a decentralized finance (DeFi) and stablecoin project called MakerDAO of Solana with Supercharged, announced that it has raised $ 3.6 million in a pre-syndication DEX (IDO) financing round.
This seed round will support the continued growth of Hubble’s DeFi interest-free lending platform and the minting of Solana’s native stablecoin USDH. It will also allow Hubble to build momentum towards the IDO of Hubble’s HBB token by mid-January next year.
Some of the biggest names in the crypto industry backed the round, including Delphi Electronic, Soar Cash, CMS, Spartan, System Funds, Three Arrows Money, DeFiance Funds, DeFi Alliance, Decentral Park Cash, and Digital Techniques.
According to Qiao Wang, a partner in the DeFi Alliance, the protocol is supported by a few special people. “Marius Ciubotariu and Thomas are two of the best founders we have supported,” said Wang. Most start-ups tend to be product-oriented, some are sales-oriented, but Marius and Thomas are mostly into team building. ”
Wang continued, “Marius and Thomas also understood that the hardest part in building a stablecoin wasn’t the algorithm itself, but the integration and utility, and they knew that the only way to do this is without interruption to sharpen. All in all, they are long-term thinkers. You are so special. ”
On this praise, Yan Liberman, co-founder of Delphi Electronic, added, “We are excited to be an investor. Delphi continues to be an advocate of the DeFi ecosystem and its potential for impact across all branches of the financial sector. Solana is one of the many exciting ecosystems for DeFi innovation, and accordingly, developer activity there has exploded over the last year. The team behind Hubble is world class and we look forward to working with them to build on DeFi’s original principles, from borrowing to structured products and more. “
DeFiance Capital said, “We are excited to be helping Hubble develop what we believe to be a more important Solana stablecoin in the future. Hubble’s unique borrowing and minting engine in itself is an exciting innovation and we look forward to being on this journey. “
Introduction to the Hubble Protocol
The Hubble protocol has three initial stages of development as the project works to expand the number of DeFi 2. services on Solana. Hubble’s first phase focused on multi-asset interest-free borrowing and minting USDH, a stablecoin backed by a 100% Solana-based decentralized cryptocurrency. Phase 2 focuses on structured products and phase 3 focuses on decentralized lending.
Project manager Marius Ciubotariu has eight years of experience programming fintech products in Bloomberg LP’s London office. The Protocol will follow a dedicated path to become a decentralized autonomous organization as the protocol does not make it difficult to explore the future of DeFi on the world’s fastest blockchain, Solana.