6th July 2021, Tortola, British Virgin Islands
Solrise Finance, a DeFi protocol that supports managed portfolios of native and synthetic funds on the scalable, low-latency Solana platform, has raised $3.4 million in investment.
A coalition of top decentralized finance venture capital funds, including Alameda Research, CMS Holdings, Delphi Digital, Jump Funding, Parafi Capital, DeFi Alliance, Reciprocal Ventures, and Skyvision Capital, led the capital raising.
According to Vi dor Gencel, CEO of Solrise, “We are ecstatic to be working with the most incredible partners and investors we could imagine. We’re absolutely committed to making Solrise a long-term success, and we’re grateful for your help.”
Solrise is working to make the DeFi ecosystem more accessible to a broader investor audience by overcoming many of the existing barriers to participation, such as high transaction costs and drawbacks of centralized finance platforms, such as custody and opaque decisions to limit trading in certain assets, with the newly injected capital.
Solrise is a permissionless and transparent platform that seeks to assist DeFi users deploy capital cost-effectively across a range of actively managed funds and passively automated investment pools, allowing them to access a wider choice of assets. Solrise’s non-custodial character, in contrast to more typical investment routes, means that fund managers never directly possess investor funds, and investors are free to enter and exit funds on their own timetable.
The Solrise platform allows anybody to create or administer a fund within the protocol, as well as invest in such funds. Aside from the platform’s ease of use and accessibility, users like as fund managers, creators, and investors may have access to Solana native and off-chain assets and protocols, which helps to expand the ecosystem’s reach.
Parafi Capital General Partner Santiago R Santos adds on the fund’s investment, “The Solrise team, who also built Solfare and Solana Beach, are master builders. We’re ecstatic to be making our first (and certainly not last) DeFi investment in Solana. We’re excited about the new DeFi capabilities in Solana, and we envision Solrise as the ecosystem’s major access point for investors and funds.”
Solrise’s Background
Solrise is taking DeFi in a new direction with its intuitive, user-friendly protocol, in response to the challenges created by high DeFi transaction costs and opaque actions by centralized platforms like Robinhood. Solrise wants to let investors with minimal experience and modest funds engage in DeFi by leveraging Solana’s high-speed, low-cost, and low-friction blockchain technology. This protocol includes non-custodial asset management services that allow anybody to establish, manage, and invest in native and synthetic asset portfolios. Solrise embraces the greatest DeFi and CeFi features to incentivise participation from all types of DeFi participants, with a focus on transparency, speed, and security.
Contacts
Dragoslavic, Filip
filip@solrise.finance/n
