{"id":131938,"date":"2020-12-18T23:30:15","date_gmt":"2020-12-18T18:00:15","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=131938"},"modified":"2020-12-18T18:52:48","modified_gmt":"2020-12-18T13:22:48","slug":"union-protocol-raises-3-million-to-bring-accessible-credit-to-defi","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/union-protocol-raises-3-million-to-bring-accessible-credit-to-defi\/","title":{"rendered":"Union Protocol raises $3 million to bring accessible credit to DeFi"},"content":{"rendered":"

Ever since the DeFi<\/a> craze kicked-off this summer, the ecosystem has only grown in size with more protocols expanding their use cases, and even some interesting mergers aimed to make the space more interoperable.<\/p>\n

A particularly popular segment of DeFi is its lending protocols that have captured a significant part of the market. However, currently in DeFi users require large amounts of readily available capital in order to take out loans and participate.<\/p>\n

With the goal of creating a more accessible credit system to DeFi, Union Protocol is looking<\/a> to build a global, permission-less credit network, enabling any person, or smart contract, with access to Ethereum, the ability to accrue credit.<\/p>\n

The protocol announced earlier today that it has raised $3 million in funding for that purpose, with investment from Placeholder, 1kx, CoinFund, Distributed Global, Spartan Group, Variant, KR1, Scalar, Defiance, and Infinite Capital.<\/p>\n

Reportedly, Union Protocol also received investment from a few notable members of the crypto community, such as Balancer CEO Fernando Martinelli and Mythos Capital Founder, Ryan Sean Adams.<\/p>\n

“It is our mission with Union to provide the means for DeFi to evolve into a more positive-sum economy; capable of lending funds natively to builders, communities, and friends.”, stated Union founder Jacob Shiach.<\/p><\/blockquote>\n

Uncollateralized borrowing and lending on DeFi have the propensity to open up a new market on DeFi and pave the way for a more extensive system of credit built upon Ethereum.<\/p>\n

While this is obviously advantageous for Ethereum, it could also lead to greater adoption of DeFi globally.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ever since the DeFi craze kicked-off this summer, the ecosystem has only grown in size with more protocols expanding their use cases, and even some interesting mergers aimed to make the space more interoperable. A particularly popular segment of DeFi is its lending protocols that have captured a significant part of the market. However, currentlyContinue reading “Union Protocol raises $3 million to bring accessible credit to DeFi”<\/span><\/a><\/p>\n","protected":false},"author":36,"featured_media":131939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[511],"class_list":["post-131938","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-lending"],"acf":[],"yoast_head":"\nUnion Protocol raises $3 million to bring accessible credit to DeFi - AMBCrypto<\/title>\n<meta name=\"description\" content=\"With the goal of creating a more accessible credit system to DeFi, Union Protocol is looking to build a global, permission-less credit...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"http:\/\/ambcrypto.com\/union-protocol-raises-3-million-to-bring-accessible-credit-to-defi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Union Protocol raises $3 million to bring accessible credit to DeFi - 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