• Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
What's Hot

Turkey’s Defense Industry Experiences Rapid Growth and Record Arms Exports

March 28, 2023

How Rising Tobacco Prices are Affecting Smoking Cessation Around the World

March 8, 2023

Is it possible to buy NFT and help the Ukrainian army at the same time?

February 17, 2023
Facebook Twitter Instagram
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
Home»Crypto»Solana: Slope Finance raises $8 million
Crypto

Solana: Slope Finance raises $8 million

Donald MunnBy Donald MunnFebruary 26, 2022Updated:September 29, 2022No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Slope Finance has closed an $8 million Series A funding round led by Solana Ventures and Jump Crypto, and also joined by Sequoia China, Genesis Trading, CMS Holdings, Spark Digital, Circle Ventures, Huobi and others.

Slope Finance is a startup that has developed a wallet for Solana’s blockchain. 

The funds raised will be used to expand the team in the US, where Slope opened its first office a month ago, and to acquire new users.

The team will also soon announce more details about other ongoing projects, partnerships and developments, including a new mobile product. 

Solana Ventures partner Matthew Beck said: 

“We are excited to support Slope’s mission to provide a seamless, cross-platform experience for users to engage with Solana’s DeFi, NFT and gaming ecosystems”.

Slope’s wallet is cross-platform, providing access to Solana Pay. It enables the use of tokens in decentralized finance (DeFi), the management of non-fungible tokens (NFT), exchanges and transfers of tokens from one blockchain to another. 

It was only launched in September last year, but has already been downloaded 1 million times with 850,000 monthly active users at Apple’s App Store, Google Play and on its Chrome extension.

Its main competitors in the Solana ecosystem are Solitare Solflare and Phantom. The latter raised an impressive $109 million last month, reaching a total valuation of $1.2 billion. Phantom seems to dominate this sector with 90% of the wallet market share for Solana.

There is currently almost $7 billion in DeFi protocols on Solana’s blockchain. This makes it the sixth largest blockchain in the world in this respect, albeit distant from the top four, and far inferior to Ethereum. 

It is worth noting, that in this respect Solana’s TVL has been declining for several months now, as it peaked on 9 November 2021 at $15 billion, which is significantly more than double what it is now. However, much of this decline is due to the decline in the value of tokens, not the number of tokens locked. 

In fact, measured in SOL, the network’s native cryptocurrency, the current level of almost 80 million SOL locked is not far off the all-time record of 87 million recorded on 29 January. 

The post Solana: Slope Finance raises $8 million appeared first on cryptodailynews24.com.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Donald Munn
Donald Munn
  • Website

Related Posts

The best PR films to inspire your crypto marketing strategy

January 2, 2023

Japan: tax breaks proposed for crypto investors

September 1, 2022

Bitcoin may have hit its low after Powell’s speech

September 1, 2022

Ripple’s plans to tokenize land in Colombia did not take off

September 1, 2022
Add A Comment

Comments are closed.

Advertisement
Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

The latest news about Bitcoin, ICO, blockchain and fintech.

Top Insights

Turkey’s Defense Industry Experiences Rapid Growth and Record Arms Exports

March 28, 2023

How Rising Tobacco Prices are Affecting Smoking Cessation Around the World

March 8, 2023

Is it possible to buy NFT and help the Ukrainian army at the same time?

February 17, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
© 2023 cryptodailynews24.com Submit news release

Type above and press Enter to search. Press Esc to cancel.