Archimedes Raises $2.4M in an Oversubscribed Pre-Seed Round to Bring High Quality Leverage to DeFi
The G(r)eeks have been hard at work building the best leverage protocol this side of the ‘verse, and today we couldn’t be more excited to share the details of our first fundraise and introduce you to our founding team.
Note: No anons here, because you deserve to know who is keeping your funds safu.
Our pre-seed funding round was led by Shima Capital joined by Hack.VC, nfr ventures, BitScale, Kesha Ventures along with strategic investors from Origin Protocol, Halborn, and Simplex.
DeFi is not only a great place for high yields, but core to a better future.
DeFi promotes transparency, fairness, and freedom as it becomes a larger part of the global financial system. However, we have become concerned with some recent developments in the space. DeFi is not as sustainable or as capital efficient as we hope it to be.
So, we decided to build Archimedes.
Our solution builds on top of high-quality liquidity management solutions, handpicking our partners, enabling leverage through lvAssets, and packaging the position as a tradable NFT.
We Are Archimedes
We are a mix of Bitcoin Hodlrs, Ethereum Apes, and DeFi Degens with the traditional background you’d expect from a team that can execute, hailing from MIT, Okta, PayPal, Bain, and more. We like to move fast, solve hard problems, and collaborate with the broader crypto community.
But you won’t hear us brag (well, maybe a little bit…). For now, we are all in on writing code and building long term relationships (yes, long term) with other DeFi projects. Without further ado, meet the G(r)eeks:
Our team is growing rapidly, so be on the lookout for more introductions in the coming weeks.
Wen Launch? Soon…
You’re early, fren! If our mission resonates with you and you love sustainable stablecoin gains, check out our links below. We will be sharing additional updates soon, including info on incentives for early supporters, so stay tuned!
For more on Archimedes: