Lending Platform Burrow Closed $5 Million Round with Dragonfly Capital and Others

Lending platform Burrow has closed a $5 million round of funding with participation from Dragonfly Capital, ParaFi Capital, Jump Crypto, QCP Capital and others. The funds raised will be used to bootstrap its initial trading liquidity. Burrow is a non-custodial liquidity pool platform on NEAR that functions as a decentralized money market, allowing users to supply and borrow assets for trading. It is reported that Burrow currently supports $NEAR, $DAI, $USDT, $USDC, $ETH and $wBTC for deposits and wrapped assets like $stNEAR, $stETH, $stSOL and $stFTM for staking. At the same time, Burrow says that it will launch a governance token staking program in its second month. If users stake the native $BRRR token, they will receive $xBRRR which allows them to vote on DAO governance proposals.