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Solv Protocol recently announced a $ 4 million Series A round from leading venture capitalists including Blockchain Capital, Sfermion and gumi Cryptos Capital.
These funds will give the project a head start in “coupon financing” for DeFi.
Resolution is a DeFi protocol that allows users to mint and trade NFTs representing financial property.
The Solv protocol has also raised funds from foundations such as DeFi Alliance, TheLao, CMT Digital, CMSholdings, Apollo Capital, Shima Capital and SNZ Holding, Spartan Group and Axia8 Ventures being co-investors.
Shortly after its founding, the project received $ 1 million in funding from Spartan Group, IOSG Ventures, Hashed, etc.
Solv Co-Founder Mike Meng said:
“In the year since its inception, Solv has built a strong network of investors and partners around the world, whose support is essential for the future of the bonds. That is why we will continue to work to make DeFi 2.0 an “era of goodies”.
Spencer Bogart, General Partner of Blockchain Capital, added:
“The vast majority of financial contracts that exist today are highly personalized, which makes ERC-20 tokens an unsuitable standard for chaining these contracts. By leveraging the expressiveness of NFT metadata, Solv teams strive to create a reliable DeFi infrastructure and unlock the new territory of “voucher financing”.
Dan Patterson, Partner at Sfermion General, said:
“Sfermion is extremely proud to be associated with the Resolution team as they build the tools and primitives needed to support the future of financial NFTs. With their new ERC-3525 standard, NFTs can now become semi-fungible, opening up a plethora of previously unexplored financial use cases.
Rui “Ray” Zhang, General Partner of Gumi Cryptos Capital, said:
“NFTs are the ideal medium for expressing chain structured financial products. The SOLV team created the first standards to allow the construction of these products – like bonds, convertible notes, and usable acquisition tokens – to be built in a safe and efficient manner.
Solv will use the funds from this cycle to launch new vouchers, expand globally, and recruit more developers and designers. One of the missions of the project is to build an ecosystem of vouchers for DeFi users and to bring maturity to the DeFi infrastructure.
Founded in 2020, Resolution protocol is a decentralized marketplace for the minting and trading of NFTs that represent financial ownership, also known as “coupons”. Solv aims to solve one of the most pressing issues in the emerging field of DeFi – the lack of an efficient and flexible tool for expressing complicated financial contracts. And by bringing goodies to the table, Solv is making up for that gap.
The Solv team consists of a blockchain evangelist and key opinion leader, a seasoned FinTech and Blockchain architect, and a veteran DeFi and tokens researcher.
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