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Archimedes is a decentralized finance lending and borrowing protocol built on the Ethereum blockchain that currently operates as a remote organization without a formal headquarters. The platform utilizes a non-fungible token system to provide cryptocurrency investors, liquidity providers, and yield farmers with up to 10x leverage on yield-bearing stablecoins across the decentralized finance ecosystem. To support its ongoing operations and its official mainnet launch in early 2023, the protocol successfully secured a total of $4.9 million in seed funding. This initial financing round was led by Hack VC, with additional venture capital participation coming from Uncorrelated Ventures and Truffle Ventures. The organization generates its revenue by charging performance and origination fees on the leveraged yield positions supplied by its users across the Ethereum network. Archimedes was originally founded in 2022 by Oz Rabinovitch and Tomer Shmulevich.
Archimedes has raised $4.9M across 1 funding round.
Archimedes has raised $4.9M in total across 1 funding round.
Archimedes has raised $4.9M in total across 1 funding round.
Archimedes's investors include Hack VC, Cogitent Ventures, Haven Ventures, Palsar, Psalion, Truffle Ventures, Uncorrelated Ventures.
Archimedes has raised $4.9M across 1 funding round. Most recently, it raised $4.9M Seed in February 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 4, 2023 | $4.9M Seed | Hack VC | Cogitent Ventures, Haven Ventures, Palsar, Psalion, Truffle Ventures, Uncorrelated Ventures | Announced |
