Oxford researcher led Euler XYZ announces $800k seed round to build decentralised finance (DeFi) start-up

OXFORD, England, Dec. 16, 2020 /PRNewswire-PRWeb/ -- Euler XYZ, a permissionless lending protocol founded by an Oxford researcher, has raised a seed round of $800k led by Lemniscap. The round also including leading funds LAUNCHub Ventures, CMT Digital, Divergence Ventures, Block0 and Cluster, as well as influential angels Luke Youngblood of Coinbase, Richard Burton and Josh Buckley, CEO of Product Hunt.

The team will use the funds to develop a permissionless lending protocol on the Ethereum blockchain that features reactive interest rates. The protocol is the latest innovation in decentralised finance, and promises to provide competition to other popular lending protocols like Compound and Aave, but allow users to earn interest on a larger number of different crypto assets.

"Trustless and transparent protocols are slowly but surely changing the way the world thinks about finance. This is just the start for us. It's an incredibly exciting time to be building in DeFi," said Dr Michael Bentley, Chief Executive of Euler XYZ.

For more information, visit http://www.euler.xyz or email michael@euler.xyz.

Media Contact

Michael Bentley, Euler XYZ Limited, +44 7794778516, michael@euler.xyz

Twitter

SOURCE Euler XYZ Limited