VycoLend, a decentralized finance (DeFi) startup, has raised $0.5 million in a seed funding round led by Aura Ventures, with participation from Lumina Capital and Cardinia Ventures, among other VC firms and angel investors. The funding will be used to accelerate Vyco's development, expand its team, and scale its operations. VycoLend's decentralized lending protocol enables users to participate as lenders or borrowers in isolated lending pools, and the platform aims to build high-velocity markets for more traditional crypto-asset lending services, with a unified margin account for users to earn interest on deposits and borrow from shared liquidity pools against collateral. In the later stage, VycoLend plans to offer institutional-grade financial products and services to organizations or high-net-worth individuals.
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