Miami, Florida, 11th August, 2022, Chainwire dPRIME Asset Modules Finance ( DAM Finance or & DAM-RRB-, a method for developing buying power from cross-chain token profiles, is pleased to share that it has received funding from the Arrington Capital Moonbeam Growth Fund.
The financial investment in DAM Finance is the third major financial investment by the Arrington Capital Moonbeam Growth Fund, a recently introduced $100m fund to sustain the Moonbeam community.
DAM promotes purchasing power from the widest series of blockchain-secured security, consisting of longer tail, yield generating, and also real-world properties. In the method, borrowers deposit baskets of symbols in a single purchase to mint dPRIME, a Dotsama stablecoin on Moonbeam.
DAM&&’s innovation gives customers extra versatility in dPRIME issuance and also safe upkeep by mutualizing the value of deposited collateral. As component of its product roadmap, DAM will use Moonbeam&&’s facilities to unlock liquidity for assets native to other parachains and blockchains outside of the Dotsama ecosystem.
&& We think the future is multi-chain as well as comprehensive, a mindset that the DAM Finance group shares with us,” claimed Michael Arrington of Arrington Capital. & DAM is taking a thoughtful approach to DeFi in creating a brand-new design for purchasing power and danger management. We are thrilled to be sustaining them as they begin to address a missing element in today&&
&s setting. & Existing cross-chain approaches suffer from inadequate possession use as well as liquidity fragmentation,” said Derek Yoo, Founder of Moonbeam. && DAM is a terrific instance of a brand-new cross-chain DeFi procedure that is leveraging linked agreements on Moonbeam to get to possessions from numerous blockchains. Having the ability to securely accumulated liquidity will permit DAM to be much more efficient and offer exceptional customer experiences.”
Moonbeam &’s clear positioning as the token economic climate &’s center for cross-chain liquidity makes it the excellent community for DAM to supply on its vision,” said Harrison Comfort, Product Lead as well as Co-Founder of DAM. && Arrington Capital has helped DAM initially, and also we&& re thrilled to have the assistance of a highly calculated partner with a considerable track record of scaling projects in the token economic situation.”
DAM &’s initial implementation is targeted for later this year. Comply with DAM on Twitter, @DAM_Finance, for added announcements as well as job updates.
About Arrington Capital
Arrington Capital is a digital possession monitoring firm mostly concentrated on blockchain-based resources markets. The firm, founded in 2017 by TechCrunch as well as CrunchBase founder Michael Arrington and TechCrunch CEO Heather Harde, has over $1 billion under monitoring and also has actually bought hundreds of startups across the world. Arrington Capital is a seasoned, international group made up of Silicon Valley professionals and drivers with deep venture capital experience and also crypto indigenous origins. Arrington Capital&&’s first fund was Arrington XRP Capital, as well as has actually broadened to numerous funds in time.
About Moonbeam
Moonbeam is a smart contract system for constructing cross-chain linked applications that can access users, assets, and also solutions on any chain. By joining functionality from Ethereum, Cosmos, Polkadot, and also much more right into a solitary system, Moonbeam fixes today&&’s fragmented individual experience — unlocking real interoperability and also paving the way for the future generation of applications.
The Moonbeam system uses incorporated cross-chain messaging to enable designers to create clever agreements that access services across numerous remote blockchains. This approach, plus Moonbeam&&’s developer-friendly EVM platform, vast device assistance, as well as modern Substrate architecture, develops the perfect growth setting for developing linked applications.
About DAM
DAM is a method for developing acquiring power from cross-chain token portfolios via dPRIME, a Dotsama stablecoin on Moonbeam. In the method, debtors are bankers, portfolios are collateral, dPRIME is the means of developing purchasing power and also DAM is a risk monitoring wrapper. DAM&&’s core factors have backgrounds in business and public blockchains, property administration, as well as information scientific research.
