In an initial round of investment, Greenwood’s decentralized lending protocol raised $2 million.
Polychain Capital was the round’s sole investor. Divergence Ventures, Blockchain Capital, and Robot Ventures were among the investors present.
Ricky Li contributed to the funding of a plan to maximize interest rates for Greenwood borrowers from real cryptoindustry individuals. Altonomy was co-founded by him. Gen. Aave Stani Kulechov, whose company provides the DeFi lending protocol, also contributed.
Though Greenwood is still in the early stages of implementing its V2 protocol, it has yet to be audited.
The heart of Greenwood’s definition is that customers measure interest rates using cryptoassets in a decentralized application rather than doing so themselves.
According to Greenwood’s CEO, the funds will be used to recruit additional personnel to assist in the next three stages of V2 growth. He also offered new features as well as the transition of conventional financial instruments that investors are already familiar with.