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Ion Protocol - Pre-Seed
Overview
Funding Date
July 14, 2023
Financing amount
$2M
Valuation
--
Catagory
Subcategory
About Ion Protocol - Pre-Seed
Ion Protocol has successfully raised an oversubscribed $2M pre-seed funding round. Led by Portal Ventures and SevenX Ventures.
The first funding round brought together an impressive assortment of value-aligned investors, including BanklessVC, HashCIB, Foresight Ventures, Smrti Labs, Maelstrom Fund, Breed VC, Everstake Pool, Punk Ventures DAO, Builder VC, and Picks and Shovels VC.
They have also had a noteworthy array of angel investors, including Aleks Larsen, Marc Weinstein, Anthony Sassano, Ryan Watkins, Daniel Dizion, Catrina Wang, DeFi Dave, David Gogel, Paul Kim, Ryan Selkis, Yuki Yuminaga, Daniel Cheung, Wilson Withiam, Alex W., Jack Sun, Ahboyash, and many more.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2022 | 14 | hello@portal.vc | ||
| Fund | China | 2020 | 94 | info@7xvc.com | ||
| Fund | Unknown | 2022 | 19 | -- | ||
| Fund | Russian Federation | 2018 | 8 | info@hashcib.com | ||
| Fund | Russian Federation | 2010 | 60 | info@foresight.vc | ||
| Lab | -- | -- | 10 | -- | ||
| Fund | Unknown | -- | 10 | -- | ||
| Corporate | United States of America | 2022 | 8 | info@breedvc.com | ||
| Corporate | Ukraine | -- | 10 | -- | ||
| Fund | Unknown | -- | 2 | -- |
Company Profile / Project Introduction
Ion Protocol is a Collateralized Debt Position (CDP) issuer, designed to accept deposits in different types of Liquid Staking Tokens (LSTs) and staked asset-backed positions (e.g., EigenLayer restaking positions, and more…). By depositing these assets users are able to mint a synthetic representation of ETH (we call this "$allETH) against their collateral position. With different loan underwriting parameters for each type of collateral that is deposited into the protocol, users have the freedom to deposit a variety of staked/restaked collateral that they can mint $allETH from.