Hashstack secures start-up financing of $ 1 million for its underlyable Defi loan project

A few days after the start of his open protocol test network, Hashstack Finance has secured start-up financing in the project in a fundraising round in which companies such as Moonrock, Ghaf Capital, Kane & Rao Group, Marktacoss, Chainridge Capital and Nimrod Lehavi invested. The funds are to be used to further develop the open protocol and win top talents for the growing hashstack finance community.

Kevin Kurian, General partner of Kane & Rao Group, said:

"to get the maximum value out of your assets is of crucial importance in every market. Hashstack offers a solution that the market has not really seen yet. We have supported Vinay and his team at Hashstack with our capital to advance these new ideas."

open protocol

The open protocol aims to enable crypto users to access underground defi loans. It is the only decentralized Defi credit solution that offers non-secured loans. It offers secure loans up to a collateral-to-credit ratio of 1: 3. For example, if a person can borrow up to $ 600 by only doing $ 200 as security. And from the agents obtained as loans, the person can withdraw up to 70 % of the collateral and use the rest as an in-platform capital.

The founder of Hashstack Finance, Vinay, said:

"The lowering of Defi is crucial for our mission at Hashstack. We are grateful to be supported by some of the smartest funds in this ecosystem.

nimrod Lehavi, CEO of Simplex, commented open protocol with the words:

"The defect loan is at its turning point. Hashstack is intelligent in an intelligent way the need for an on-chain loan evaluation to facilitate underfraiting loans. Hashstack has the potential to become one of the pioneers from Layer-3-Enabler solutions."

In addition to the introduction of the Open Protocol, Hashstack has integrated several other defi solutions such as Pancakewap to facilitate in-app cryptoma market swaps and improve credit relief. Therefore, Open Protocol can borrow the borrowed cryptocurrencies and exchange them with others without having to switch to other dapps.

At the moment, the open protocol only supports the most important liquid coins, including BTC, BNB, USDT, USDC and the native governance token hash from Hashstack.