Cardano-based DeFi Startup Liqwid Labs Raises $2.7M in Seed Round with Animoca Brands Involved

DeFi startup Liqwid Labs announced it has raised $2.7m in a seed funding round led by cFund, a venture capital firm anchored by Cardano founding entity IOG, with participation from Shima Capital, Animoca Brands, Altonomy and others.

Liqwid Labs is developing Liqwid, a Cardano-based lending protocol that provides an automated money market for earning interest as a supplier and borrowing Cardano native assets. When users supply assets to a Liqwid market, they will receive qToken, which represents the amount of crypto assets supplied and the interest earned on those assets. The first asset supported on Liqwid will be $ADA.