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BCH $305.31 (6.16%)
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DOGE $0.15 (7.93%)

Hubble Protocol Raises $3.6M in Pre-IDO Event To Support Its Zero-Interest DeFi Platform

Hubble Protocol Raises a Whopping $3.6M in Pre-IDO Seed Funding Event DeFi News
  • Hubble Protocol raises $3.6 million in a pre-IDO seed funding round.
  • Hubble will use the fund to support its zero-interest DeFi borrowing platform.
  • Delphi Digital, Jump Capital, CMS, Spartan, Mechanism Capital led the funding event.

Hubble Protocol announced that it has raised a gargantuan $3.6 million in a pre-IDO seed funding event.

Hubble will use the raised funds to support and grow its zero-interest DeFi borrowing platform. Doing this, the company will supercharge the minting of Hubble’s Solana-native stablecoin, $USDH in the market.

Additionally, the funding event will strengthen the Hubble Protocol to build strong momentum for its $HBB-IDO launch in January 2022. To mention a few, Hubble’s funding program was supported by Delphi Digital, Jump Capital, CMS, Spartan, Mechanism Capital, and Three Arrows / DeFiance.

Not only these companies, but Capital, DeFi Alliance, Decentral Park Capital, and Digital Strategies also supported Hubble Protocol in the funding event.

DeFi Alliance Partner Qiao Wang said,

Hubble Protocol is backed by some really special talent. Marius and Thomas are two of the most special founders we have supported. Most first-time founders tend to be focused on product, some on distribution, but Marius and Thomas care the most about team building.

Moreover, Wang mentioned that Marius and Thomas deeply understand that creating a stablecoin doesn’t depend on the algorithm itself, rather, integrations and utility. He said that Marius and Thomas know that the only method to achieve this is a “nonstop grinding.”  In the same breath, Wang expressed that it takes long-term thinkers to provide all these synergies since they are special.

Delphi Digital Co-Founder, Yan Liberman said,

We are very excited to be investors in Hubble. Delphi continues to be a supporter of the DeFi ecosystem and its potential for impact across every vertical within finance. One of the many exciting ecosystems for DeFi innovation is Solana, and accordingly, the developer activity there has boomed over the last year. The team behind Hubble is world-class and we are thrilled to work alongside them to build DeFi primitives, from borrowing to structured products and beyond.

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Karikari Daniel is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.