DeFi Project Bastion Raises $9M From Three Arrows Capital And FTX

DeFi Project Bastion Raises $9M From Three Arrows Capital And FTX

Bastion’s lending protocol closed a $9 million Series A funding round led by Three Arrows Capital.


The round was attended by the venture division of the FTX crypto exchange, Jane Street, The Spartan Group, Crypto.com and other investors.

The Bastion team announced over the next few weeks the launch of leveraged farming, new listings, and plans to gamify DeFi with NFTs.

Bastion is powered by Aurora, a second-tier blockchain platform NEAR networks. According to the developers, since the launch in March, the volume of funds blocked in the protocol has reached $620 million. Defi Llama gives an indicator less – about $472 million.

“With the upcoming launch USN Bastion will be strategically positioned as a fundamental DeFi lego, driving adoption of NEAR’s own stablecoin initiative.” says in a statement.

In early April, one of the users found a mention of USN in the interface of the Ref Finance protocol, and the NEAR Blockchain Twitter account posted a tweet with the name of the stablecoin. Against this background, the project’s native token increased by 22.7%.

Check Also: DeFi Platform WonderFi to Buy Regulated Crypto Exchange Coinberry

Recall that at the end of March, the Bastion team claimed to have collected an undisclosed amount under the seed round of funding. It was led by the ParaFi Foundation with contributions from Jane Street, Digital Currency Group, Crypto.com, CMS and Manifold Trading.

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