Sirlibz
Union Finance has announced their funding round closure which helped them raise a total sum of $3.9 Million from Alameda Research, Bering Waters Ventures, Spark Digital Capital, AAM, Cluster capital, Alpha chain, Black Edge Capital, 3 Commas and more.
Funds raised are supposed to help Union kick start the UNION Risk Management and Assets Protection Platform on the Ethereum blockchain.
“One of our goals is to create protection products and an ecosystem that let people participating in DeFi sleep well at night,” said Michael Beck, project lead for UNION. “We’re amazed at the incredible support our project has received and we’re excited about the future and our role in strengthening the DeFi marketplace.”
The Risk management platform will help curb too much risk away from investors. The DeFi hype is still booming and just like every non-risky investments, investors have lost quite a lot of funds while some have made awesome returns on investments. Total valued locked (TVL) in DeFi is now over $12 billion.
The goal is to create the cornerstone platform for risk management and asset protection instruments in a market poised for exponential growth.
The announcement noted that the funding will allow UNION to launch with its initial suite of protection products. These production products include collateralization ratio protection, CDS-inspired Smart contract coverage and other capital protection pools and products. UNION is moving forward with the goal of creating a bundled protection product that considers multiple layers of the DeFi stack, secondary markets for protection and an inclusive no-KYC Model that removes the challenges to accessing risk management tooling.
UNION would be provided with insights and support from the investors leveraging their experience in a wide range of the TradeFi and DeFi Sector. They also look forward to building the most advanced risk management tooling necessary to boost the DeFi sector to its next phase.
