Venture Capital Firm Borderless Capital Invests In Blockchain Platform StakerDAO

Blockchain, Investing, News | August 7, 2020 By:

Blockchain-focused venture capital firm Borderless Capital has invested an undisclosed amount in blockchain platform StakerDAO. The investment is part of StakerDAO’s $3M Series A round, co-led by Polychain and Lemniscap.

Borderless Capital is a modern financial institution investing capital and building financial products that accelerate access, bootstrap adoption, and create value globally through the Algorand Borderless Economy. As a thought leader in blockchain with deep expertise in the Algorand ecosystem, they also advise their portfolio companies and also provide guidance and mentorship to grow them into successful businesses.

Launched by Jonas Lamis with initial funding from Polychain Capital, StakerDAO is a platform for governing financial assets in a decentralized, secure, and compliant manner. The StakerDAO community builds and manages products for on-chain governance, cross-chain synthetics, and tokenized real-world assets. The company’s first financial product Blend (BLND) tracks a governed basket of Proof-of-Stake (PoS) tokens and offers the easiest way to go long on the best PoS networks. BLND is currently available via CoinList as a synthetic ERC20 token and will shortly be available as an Algorand ASA token.

As part of of its investment, Borderless Capital will work with StakerDAO to launch a growing number of products for the DeFi and Algorand ecosystems, creating gateways to both stake and secure the Algorand network while participating in DeFi. The goal is to enable the release of liquidity locked in staking, while maintaining the number of tokens securely validating the network.

“With its fully collateralized basket that includes the ALGO, we are excited to welcome users of Blend as they support the growth and utility of the token and blockchain platform,” said Sean Lee, CEO of the Algorand Foundation. “BLND is part of accelerated momentum for DeFi on Algorand with its unique primitive that provides a liquid instrument for DeFi. We are also excited to announce that StakerDao is the first project to be accepted into the Algorand Asia Accelerator, a Finance 3.0 focused blockchain launchpad helping projects to establish and deepening their strategic presence in Asia.”

“We welcome StakerDAO to the Borderless Capital portfolio,” said Arul Murugan, Founding Managing Partner of Borderless Capital. “We are very excited to collaborate together developing new innovative financial products leveraging the superiority of Algorand’s technology and platform.”