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DeFi Studio Framework Labs Leaves Stealth Mode With $8M in Seed Funding
Framework Labs says it's already playing a key role in projects including Uniswap and Chainlink.
Updated May 9, 2023, 3:11 a.m. Published Aug 28, 2020, 9:03 a.m.
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Framework Labs – a new "fintech studio" that incubates and supports projects in the decentralized finance (DeFi) space – has stepped out of the shadows with the announcement of a successful seed funding round.
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- Announced Thursday, the $8 million investment was led by Station 13, a sister entity to sports media and technology holding company JDS Sports.
- Framework Labs sets out to be a "full stack partner," helping govern blockchain protocols, providing liquidity to decentralized exchanges, bootstrapping startups and building consumer apps, all with connections to DeFi.
- The firm – launched by the founders of DeFi investment fund Framework Ventures – claims to be the foremost staker on Synthetix and a key node operator providing data for Chainlink's oracles.
- "DeFi is not a spectator sport. Active participation, governance, building of consumer products, and advanced trading strategies are all part of the complex process of making a DeFi protocol successful," said Framework Labs co-founder Vance Spencer in a press release.
- The studio also claims to be the largest liquidity provider on the decentralized exchange (DEX) Uniswap.
- The seed funding will go towards expanding the firm's research, trading and engineering teams, providing further liquidity to non-custodial DEXs and incubating startups among other pursuits.
See also: Multi-Chain DeFi Protocol Raises $750K in Token Sale With Framework Ventures
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