- MOUND is a Decentralized finance startup.
- It is recognized for its yield farming aggregator Pancake Bunny.
- The startup raises $1.6 million in seed funding led by Binance Lab.
- Investors include IDEO CoLab, SparkLabs Korea and Handshake co-founder Andrew Lee.
Introduction:
Binance Labs is the venture arm of Binance, existing to grow the blockchain and crypto ecosystem . And that is by consistently explore, evaluate, invest, and facilitate ideas that will increase crypto adoption. They Incubate top Buidlers/Founders and Invest into top Projects with moonshot ideas, proven p/m fit, fast execution team with long-term value.
At MOUND, the mission is to put compounding, high-yield DeFi returns in the palm of everyone’s hand.
Members of Team MOUND are extremely proud of the massive value that we have returned to the PancakeBunny community through our innovative BUNNY tokenomics and Cake Maximizer vaults, and we remain committed to creating value through innovation and our unrelenting user-centered approach to design and live service.
Team MOUND is composed of seasoned developers and entrepreneurs with an extensive track record of success across games, social platforms, quantitative financial services, and blockchain applications.
With decades of product and live service experience, Team MOUND’s ability to create value through innovation and its expertise in execution were key factors in Binance’s decision to invest.
The decentralized finance startup MOUND raises $1.6 Million.
The decentralized finance startup MOUND, known for its produce, aggregator Pancake Bunny, has raised $ 1.6 million in seed funding led by Binance Labs.
Other participants included IDEO Collab, Sparklabs Korea and Andrew Lee, co-founder of Handshake.
A blockchain to develop a high-performance DIFA app, built on the Binance smart chain, MOUND says Pancake Bunny now has more than 30,000 daily average users. And also the total price lock since its launch in December 2020. (TVL) has accumulated over $ 2.1 billion.
The new funding will be the target to expand Pancake Bunny and to develop new products. MOUND recently launched Smart Vaults and plans to unveil cross-chain collateralization in about a month.
And bringing the startup closer to its goal of covering a wide range of DeFi use cases, including farming, lending and swapping Gone.
MOUND’s bunny protocol borrows assets on the Binance Smart Chain for yield cultivation.
Smart vaults are for the cultivation of single asset yields on leveraged lending products. It also automatically checks whether the cost of leveraging can exceed anticipated returns. Moreover, it can actively lend assets to cross-chain farming of the MOUND.
Cross-chain collateralization is cross-chain yield farming. It allows users to place core assets on their core blockchain instead of relying on a pull token.
The user’s core assets serve as collateral. This is when the bunny protocol borrows assets on the Binance Smart Chain for yield cultivation.
This allows users to place assets on the native blockchain. It offers them liquidity to generate returns on the Binance smart chain.
Wen Zhou, Binance Chief Financial Officer and Head of Binance Labs and M & A’s, said in a statement, “MOUND’s commitment to the growth and execution of Pancake Bunny is impressive. Team MOUND’s expertise in live product design and service was an important factor in our decision to invest.
