This algorithmic platform Pledge combines multiple public blockchains to offer structured lending and derivatives. The startup announces $3 million in funding led by DHVC.
In addition to DHVC, prominent professor Gary LeBlanc has also joined the round. Berkeley Haas School of Business. One of the first professors to teach blockchain, LeBlanc will be accompanied by Stanford University community members, Ray Wong, CEO of Lutech, a prominent miner in Canada, and Telos Mortgage President, Torsten Wendl.
A decentralized structured lending protocol, Pledge, establishes sophisticated money markets with algorithmically fixed interest rates, providing its own native token -PLGR-based on the supply and demand of certain cryptocurrencies. Stablecoins and collateralized digital assets can be exchanged quickly using this capability. At the moment, the protocol is being developed using the Binance Smart Chain; it is expected to be expanded to various public blockchains.
With Pledge, unlike many other DeFi lending protocols, you can create various liquidity pools for numerous crypto assets with varying maturity and interest rates, as well as fixed loan terms.
They aim to transform pledge protocol into an integral part of the fixed-income money market. In addition, to pledge protocol, they also provide decentralized interest rate swap contracts.
With these derivative-based smart contracts, investors can hedge, speculate, and manage risk on or across blockchains, swapping fixed-rate payment schedules for floating-rate ones.
The team behind Pledge is led by blockchain-savvy Stanford University researchers who hope to deliver the third major breakthrough in distributed systems after Classical and Nakamoto consensus protocols.
“This raise will help us advance our mission to make Pledge the crypto-asset lending platform for all, making it easy for cryptocurrency holders to diversify their portfolios while further accelerating the adoption of DeFi apps in everyday investors’ financial activities,” said Tony Y. Chan, Pledge founder and CEO.
About Pledge Finance
Pledge is a breakthrough programmable structured financial protocol that is secure, decentralized, and achieves high performance, all while able to scale to thousands if not millions of participants. Pledge Protocol fully supports financial NFTs, including everything from insurance and bonds, to unique baskets of tokens, to tokenized real-world financial assets. Pledge supports both intra-chain and inter-chain programmability, enabling developers to control the execution of their dApps in one chain while securely managing data between chains.