DeFi Lending Protocol Alchemix Raises $4.9M in Round Led by CMS, Alameda

DeFi Lending Protocol Alchemix Raises $4.9M in Round Led by CMS, Alameda

Decentralized finance (DeFi) lending protocol Alchemix said it completed a $4.9 million funding raise led by CMS, Alameda Research and Immutable Capital.

  • Alchemix said it sold the investors the protocol’s native ALCX tokens at $700 per token. Proceeds were transferred to the protocol’s founders as compensation for their work. Alchemix noted that as this was the protocol’s first capital raise, all work prior to this had been done without compensation.
  • In order of investment size, the investors were: CMS, Alameda Research, Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, eGirl Capital, Fisher8 Capital, Orthogonal Capital and one individual, whose name was not provided.
  • The protocol said the raise allows the founders to commit to full time development and will also be used for audits, contractors, hiring, marketing, and community efforts.
  • Under terms of the raise, the protocol’s founders can’t sell any more tokens this year while the funding group are prohibited from selling theirs for three months.

Source: https://www.coindesk.com/defi-lending-protocol-alchemix-raises-4-9m-in-round-led-by-cms-alameda

Kenneth Page

A futurist and entrepreneur working on the next generation of financial services. He studied reports on blockchain technology companies building the infrastructure, applications, and practices that enable a decentralized world.

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