ZeroLend Raises $3 Million to Expand Its DeFi Platform on zkSync

ZeroLend, a decentralized lending protocol on zkSync, announced that it has successfully raised $3 million in a seed round, valuing the project at $25 million. The new funds will be used to accelerate the development and expansion of the ZeroLend platform.

The round saw participation from several notable individuals and funds in the blockchain space, including Momentum 6, Blockchain Founders Fund, Morning Star Ventures, Banter Capital, Newman Capital, dVdT, Transform Capital, Cypher Capital, Bison Fund, Ozaru Ventures, iAngels, Krypital, Genblock, viaBTC, GBV and Asteroid Capital.

In addition, some angel investors also joined the round, such as MrBlock from Curve Finance, Pranav Sharma from Woodstock, Michael from Boxmining, Avi Felman from GoldenTree, Nick Rose from Ethernity Chain, Ajeet Khurana from Reflexical, Vijay Pravin from Bitscrunch, Vijay Garg from Mapleblocks and Danish Chaudhary. ZeroLend is one of the fastest-growing DeFi protocols in the zkSync ecosystem, with its total value locked (TVL) increasing by more than 1500%, from $3 million to $50 million in the past year.

Currently, ZeroLend is the largest lending protocol on zkSync and the third-largest on Manta in terms of TVL. Going forward, ZeroLend aims to continue leading on these chains before moving to other Layer 2 solutions.

ZeroLend is a DeFi protocol that allows users to borrow and lend crypto assets on zkSync, a Layer 2 scaling solution that leverages zero-knowledge proofs to achieve high throughput, low latency and low fees. By using zkSync, ZeroLend can offer users a seamless and secure lending experience, without compromising on decentralization or security.

ZeroLend supports a variety of crypto assets, such as ETH, USDT, DAI, WBTC, ZKS and more. Users can earn interest by supplying their assets to the protocol, or borrow assets by providing collateral. ZeroLend also features a governance token, ZLD, that enables users to participate in the decision-making process of the protocol.

ZeroLend’s vision is to become a leading DeFi platform on Layer 2, and to bridge the gap between traditional and decentralized finance. By offering users a fast, cheap and user-friendly lending service, ZeroLend hopes to attract more users and liquidity to the zkSync ecosystem, and to contribute to the growth and innovation of the DeFi space.

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