With the support of 80 more investors, Morpho Labs received $18 million in a fundraising round co-led by Andreessen Horowitz (a16z) and Variant. With peer-to-peer liquidity, Morpho is designed to integrate with already-in-use lending protocols like Compound and Aave and provide more incredible rates. The startup claims that since the introduction of Compound a few weeks ago, it has amassed $30 million in liquid assets. The debut of Morpho-Aave will take place soon. Variant Fund general partner Spencer Noon in the announcement said, “Morpho is a new type of lending primitive that directly matches suppliers and borrowers and sits directly on top of lending pools like Aave and Compound, unlocking rates that are competitive both on and off-chain.” “If successful, we believe it has the potential to become a go-to coordination layer of a new global and decentralized financial system.” A16z Leads $6M Blockchain Seed Funding Round With the debut of a $4.5 billion fund in May, Linera A16z rose to the position of the most significant investment company in the cryptocurrency industry. An investment round led by Marc Andreessen’s Andreessen Horowitz totalling $6 million has been completed for the layer one blockchain project Linera, which aims to extend Web2 scalability to Web3 (a16z). Mathieu Baudet, the creator and CEO of Linera, is a former Meta (FB) employee who contributed to the development of Facebook’s Libra blockchain. He holds a...
