Composable Corp, a development shop focused on building DeFi lending markets, has raised $1.2M to support the development of Blueberry Protocol.

The proceeds from the raise will be used to grow the team and infrastructure, according to key members of Composable Corp.

Slater Heil, CEO, Composable Corp. provides context for the mission:

For better and for worse, the centralized entities in the DeFi and CeFi alike have put on a scathing display of the flaws of a system controlled by a handful of human actors. The DeFi ecosystem has been thrust into the spotlight to rebuild essential financial services that utilize software to build trust, maintain permissionless access, and allow users to keep custody of their assets. On the bright side, this serves as proof of the DeFi mission. With Blueberry, we aim to bring arguably the most essential financial service to DeFi: access to more capital, for whatever you want to do with it.

Trade spot, perform yield arbitrage, provide liquidity, purchase RWAs, or do anything on chain with more capital.

The protocol will partner with DeFi projects such as Alchemix and Olympus DAO for custom lending market and yield strategy integrations alongside many popular DeFi strategies at launch.

About Blueberry Protocol

Blueberry Protocol is a peer to peer lending market allowing users to borrow up to 50x their collateral value to deploy on-chain. Previously, maximum LTV (loan to value) ratios for on-chain money markets could never rise above 100%, limiting the use cases of the lending facilities.

Blueberry has been a member of the Chainlink BUILD Program since December 2022. As a part of BUILD, Blueberry receives enhanced access to Chainlink’s industry-leading oracle services, technical expertise, and community support.

The company employs economic risk security experts to set dynamic risk parameters for any combination of collateral asset, borrow asset, and loan deployment. This approach minimizes risk to lenders while maximizing capital efficiency for borrowers relative to available liquidity and volatility profile for respective assets.

With Blueberry’s architecture, users can access more capital while maintaining full custody and control of their assets — no centralized entities required.

For example, a borrower looking to purchase on-chain RWAs may employ more leverage than a borrower looking to yield farm a volatile asset.

The protocol also utilizes innovative “Position NFTs” to maintain user self custody while allowing the bank contract to take control when a loan needs to be liquidated.

Blueberry code has undergone two tier-1 audits through Sherlock and Hacken prior to launch.

Composable Corp. was founded by veteran commodities trader and DeFi fund manager Slater Heil and multi-exit entrepreneur Jonathan Thomas. The technical team is led by Alex Chon, who helped build popular DeFi projects such as TrueFi and Platypus, plus developers from Magic Eden and other top projects.