Hashstack Finance is pleased to announce the completion of its $1 million seed funding round, which follows the launch of its Open Protocol testnet. The funds will be used to further develop the Open Protocol, attract top talent, and grow the community.

Hashstack Finance is a DeFi platform with an Open protocol that seeks to disrupt the DeFi lending market by providing uncollateralized loans. It highlights the lack of under-collateralized loaning opportunities for retail cryptocurrency investors by allowing loans at up to three times collateral to serve personal financial needs and trading capital requirements. Users can obtain under-collateralized loans to avoid selling long-term holdings to meet short-term cash needs.

Several well-known investors participated in the seed round, including GHAF Capital Partners, Moonrock Capital, Kane & Rao Group, Nimrod Lehavi, MarketAcross, and Chainridge Capital.

Vinay, the founder of Hashstack Finance, stated that bringing under-collateralization to the DeFi is critical to Hashstack’s mission. “We are grateful to have the support of some of the most astute investors in this ecosystem.” The funds raised will be used to hire new employees, develop new products, and expand the company.

Hashstack’s Open Protocol is the only autonomous lending solution in DeFi that allows for non-custodial, under-collateralized loans with a collateral-to-loan ratio of up to 1:3. It means you can borrow up to $300 while only putting up $100 as collateral. You can withdraw $70 (i.e. up to 70% collateral) while using $230 as in-platform trading capital.

According to Kevin Kurian, General Partner at Kane & Rao Group, “Getting the maximum value out of your assets is essential in any market. Hashstack offers a solution that the market has not really seen before. We backed Vinay and his team at Hashstack with our capital to bring forward these new ideas.”

While current DeFi lending protocols necessitate over-collateralization, Hashstack is excited to show borrowers what DeFi lending will look like in the future. Open protocol provides instant under-collateralized loans for personal cash needs, leveraged investments in IDOs, or trading capital.

While current DeFi lending protocols necessitate over-collateralization, Hashstack is excited to show borrowers what DeFi lending will look like in the future. Open protocol provides instant under-collateralized loans for personal cash needs, leveraged investments in IDOs, or trading capital.

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