Range Protocol, an all-in-one on-chain asset management platform, has proudly announced the close of a successful $3.75m seed funding round.
The financing was co-led by influential FinTech names HashKey Capital and Nomad Capital. Additionally, Spark Digital Capital, Mirana Ventures, Symbolic Capital, Asymm Ventures, and Comma3 Ventures were among the participants that lent their support.
Diving deeper into what Range Protocol offers, the company envisions a DeFi landscape that mirrors the transformations witnessed in traditional finance. This shift centres on providing the general public with unrestricted access to advanced trading strategies that, up until now, were accessible to only an elite group.
By presenting itself as a holistic DeFi Asset Management entity, Range Protocol ensures that average DeFi users can seamlessly benefit from expertly curated automated trading tactics to augment their returns. This scope of strategies encompasses liquidity provision, derivatives, NFT Finance, and liquid staking derivatives. Remarkably, even in their nascent stages, these segments boast multi-billion valuations. However, a glaring void exists in terms of systematic trading techniques tailored for the common user.
The raised capital will be directed towards the further enhancement of the platform, expansion of the team, fostering community engagement, and readying for the introduction of new verticals within the DeFi realm. The culmination of these efforts points towards an impending lineup of key collaborations.
A spokesperson from HashKey Capital elucidated their perspective on Range Protocol’s value proposition, stating: “Range comprehends that genuine democratisation lies at the heart of decentralised finance, which remains incomplete without equitable trading strategy opportunities. With the impending growth of this new financial structure, we are confident that Range is strategically placed to pioneer systematic trading strategies for all.”
Additionally, Ricky Li, GP of Nomad Capital weighed in with, “The crypto landscape demands a proficient investment infrastructure platform to facilitate investors in managing their assets in an unhindered and professional manner. Unlike traditional finance giants such as Fidelity and BlackRock, Range brilliantly amalgamates sophisticated strategies with non-custodial implementation.”
Previously, Range Protocol had always been on a trajectory of growth and innovation, with the vision of evolving into a comprehensive on-chain asset management forum. With profound gratitude, the team recognises the unyielding support from HashKey Capital, Nomad Capital, and all other contributors, eagerly looking forward to sculpting the future of on-chain yield.
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