Polychain Capital Leads $22M Investment Round in Parallel Finance
Main page News, DeFi
Hot topic
31 August
57 57

Parallel Finance, a Polkadot-based decentralized finance (DeFi) protocol, has completed a Series A funding round in which it has raised a total of $22 million.

Following the funding round, the valuation of the project has hit $150 million.

The round, in which Lightspeed, Slow Ventures, Blockchain Capital and Alameda Research have taken part, was led by Polychain Capital.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

The project, which was launched 5 months ago and is being tested on the Polkadot and Kusama networks, raised a total of $2 million last June.

Parallel, which currently has 3,000 users, offers two key services: leverage placement and liquidity extraction.

The project intends to grow its user base as well as its staff.

Read also:
Please describe the error
Close