Struct Finance secures $3.9 million to build structured DeFi products
Avalanche-based DeFi protocol Struct Finance has raised $3.9 million in a seed round funding contributed to by some of the biggest venture capital investors in the crypto space.
Per a press statement shared on Monday, the platform wants to use the funds to build on-chain decentralised finance (DeFi) structured products.
Twenty-four elite investors participated in the financing round, including Blizzard Fund (Avalanche’s 200 Million fund), QCP Capital, Avalaunch, Infinity Ventures and 0xVentures.
Other notable contributors included Bison Fund, FBG Capital, Keychain Capital, Skyvision Capital, and Woodstock.
Enabling DeFi structured products
With the funding, Struct Finance’s team plans to build and roll out its suite of DeFi products to institutions and other ecosystem users. And tapping into these tools will allow users to customise their offerings, tailoring them to different investor profiles.
In this way, DeFi investors can adapt products based on factors such as investor risk profiles, asset class and market expectations.
Using one of the products (Factory), users can easily create fixed income and yield enhanced instruments. They can then tailor these to fit their specific portfolio needs, as per their investment assets and targets.
On-chain custom derivative products mean investors can look forward to “highly-competitive yields". The attractive offerings will be available via various digital assets, Struct said in its release.
“As crypto markets mature and DeFi takes root, the need for sophisticated instruments which are capable of supporting the demands of institutional and retail investors becomes paramount. Struct not only offers this, but also allows users to compose existing instruments together, opening an endless array of strategies," said Mark Stanwyck, the co-founder of Avalaunch.
"The team behind Struct has done nothing but build and execute around these novel concepts, and it’s an honour to be able to support them on their journey,” Stanwyck added.
The Struct products will be available on Avalanche, with further development set to take them to other blockchains in the ecosystem.