Apricot Finance, based in Solana, has raised $4 million in a Party funding round

• Decentralized finance (DeFi) is a lending system that allows anyone to borrow money without having to go to an Apricot Finance has raised $4 million in a fundraising round led by Lemniscap and Delphi Ventures, among others
• Apricot is a loan protocol that offers borrowers the least amount of collateral, aided self-liquidation, and the least amount of liquidation penalties
•  Apricot is a new DeFi money market platform based on the Solana network, and the company’s core offerings will include cross-margin yield farming and an automatic self-deleveraging mechanism, according to a spokesman

Decentralized finance (DeFi) is a lending system that allows anyone to borrow money without having to go to an Apricot Finance has raised $4 million in a fundraising round led by Lemniscap and Delphi Ventures, among others. On Wednesday, a spokesman informed CoinDesk that the fundraising was more similar to a party round in which many investors took part. Several investors took part, including Solana Capital, Advanced Blockchain AG, Skyvision Capital, Ledger Prime, Valhalla Capital, MXC, Gate, a41 Ventures, and others. The $4 million rise comes after an $800,000 raise in June.

Apricot is a loan protocol that offers borrowers the least amount of collateral, aided self-liquidation, and the least amount of liquidation penalties. Apricot protects the interests of all stakeholders via a 2-hour liquidation assurance mechanism. Apricot also offers a variety of auxiliary services to assist consumers to make the most of their borrowed cash. Margin trading with up to 9x leverage is now enabled, with more capabilities on the way.

Apricot plans to utilize its freshly obtained cash to assist the launch of its initial flagship services, according to the company. Apricot is a new DeFi money market platform based on the Solana network, and the company’s core offerings will include cross-margin yield farming and an automatic self-deleveraging mechanism, according to a spokesman. This year, Solana has attracted a slew of fresh investments, either directly or through initiatives developed on top of the platform. The network’s top company raised $314 million in June. Apricot’s testnet is set to go live next week, with the mainnet following in September. 

Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.