Affine Protocol closed a $5.1 million seed round to build a decentralized protocol and app that offers users access to sustainable and diversified yields.
Hack VC and Jump Crypto co-led the round. Other investors in the round included Spartan Group, Coinbase Ventures, Circle Ventures and AlphaLab Capital, the company said in a statement.
Affine uses automated bots to adjust liquidity positions so user funds are being leveraged productively, the company said. The protocol offers two core basket types, which are diversified and dynamically rebalancing vaults that provide exposure to Affine's strategies.
The new funding will be used to expand investment strategies and branch out on to new chains. Affine protocol is currently on Ethereum and Polygon.
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