According to PANews, Origami Finance has announced the successful completion of a $1.5 million seed funding round on the X platform. The funding round saw participation from Ouroboros Capital, Fjord Foundry, Good Partners, Upside, BeraLand, TempleDAO, Boba Tea Capital, Three Three Ventures, Smokey The Bera, and janitooor.eth. The valuation details of the funding round have not been disclosed. The newly acquired funds will be utilized to develop Origami Finance's automated leverage protocol on Ethereum and BeraChain.
The automated leverage protocol by Origami Finance is designed to integrate with third-party lending services. This integration aims to automate the folding of yield-bearing tokens (YBT), thereby enhancing capital efficiency and reducing the risks associated with liquidation and bad debt. The protocol's innovative approach is expected to provide significant benefits to users by optimizing their yield and minimizing potential financial risks.
