Polaris raises $1M angel round backed by Ethereum Foundation
What's the deal? PolarisDealroom has a profile for this one. Try Dealroom → has completed a $1 million angel round, with participation from the Ethereum FoundationDealroom has a profile for this one. Try Dealroom →, FusionDealroom has a profile for this one. Try Dealroom →, AltitudeDealroom has a profile for this one. Try Dealroom →, LiquityDealroom has a profile for this one. Try Dealroom →, and LI.FI. More than 30 founders and contributors also joined, including Anthony SassanoDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Polaris is building a permissionless on-chain revenue protocol. Its core product is pETH, an interest-bearing reserve asset, alongside USDp and GOLD.
Why now? The startup aims to provide native yield for any asset on the chain, tapping demand for on-chain returns as investors seek revenue-generating crypto products.
The signal: Backing from the Ethereum Foundation and established DeFi names like Liquity and LI.FI points to continued investor appetite for infrastructure that turns idle on-chain assets into yield.
Read more: bbx.com
Image credit: orgalpari
