Decentralized prime brokerage terminal Blueberry Protocol paid $2.5M.
TLDR
Blueberry Protocol in Series A $2.5M Funding Led by White Star Capital Provides Decentralized Access to DeFi on Ethereum The Protocol Offers Improved Opportunities Using Advanced Risk Management and High Leverage Funding for Group Expansion and Security Budgeting Blueberry Provides Early Access to Native BLB Tokens Through Fjord Foundry and PancakeSwap Events provides
Blueberry Protocol, a decentralized prime broker terminal, has successfully raised $2.5 million in Series A funding led by White Star Capital.
The investment round saw participation from prominent investors such as Varys Capital, SNZ Capital, Alchemix DAO, Aquanow, Dewhales Members, DCD Members, GateCap Ventures, Knight Trading and MonkVentures.
The Panama City-based startup aims to change the DeFi landscape by providing decentralized access to DeFi for general use on Ethereum.
. Blueberry Protocol offers superior risk management and superior opportunities compared to traditional prime brokerage services.
By combining robust and transparent risk management tools with a sophisticated usability framework, the protocol seeks to expand access, increase capital efficiency and improve profitability for a wide variety of DeFi users.
The DeFi sector has seen significant growth in recent months, with Total Value Locked (TVL) recently reaching the $100 billion mark again.
The recent approval of Ethereum ETFs has renewed interest in the traditional finance space, with Blueberry leading this new institutional adoption of DeFi.
As institutional participation increases, flexible prime brokerage services will be critical to enable safe and efficient trading, provide liquidity and manage portfolios in the crypto market. The Blueberry protocol offers both conservative whales and high-level degins.
White Star Capital Vice President Cameron Coombs expressed his belief in the core ethos and purpose of decentralized finance, which is to allow users around the world to conduct financial transactions in a self-sovereign and license-free manner.
Blueberry says it is currently building the infrastructure that will enable this vision, where these users can easily access a healthy and efficient service, which can be deployed on DeFi.
The money will be used for team expansion and an increase in the security budget, ensuring that Blueberry Protocol can develop and innovate the platform while maintaining high security standards.
Darius Askaripour, managing partner at Varys Capital, added that Blueberry is redefining prime brokerage, allowing users to maximize returns from digital assets or treasury products. He emphasized that the Blueberry Foundation, which is supported by the DeFi Native Group, will be instrumental in developing the necessary building blocks for DeFi.
Jonathan Thomas, CEO and co-founder of Blueberry Protocol, expressed his enthusiasm for the investment, stating that it demonstrates the significant value Blueberry Protocol brings to the DeFi landscape.
Offering industry-leading loan-to-value (LTV) ratios of up to 20x, Blueberry is poised to transform supply chain business and product strategies. With the newly raised funds, the company plans to further develop its platform, expand its reach and continue its role in shaping the future of the digital economy.
Blueberry is also offering early access to the Born BLB tokens through the Fjord Foundry and PancakeSwap events. These events are critical milestones in the development of the Blueberry Protocol's decentralized and robust active community.
