Draper Goren Holm Invests In 2 Projects Leveraging DeFi Money Market (DMMDAO)
Prominent venture fund actively searches to back startups leveraging their portfolio companies’ technology.
Los Angeles, CA — June 23, 2020 — Draper Goren Holm today announced that it had made investments in two seed-stage startups that are integrating Defi Money Market’s technology into their products and are looking to invest in more startups doing the same. The Defi Money Market (DMM) Protocol, run by DMM DAO, was backed early on by Draper Goren Holm and focuses on bringing real-world, interest-bearing assets onto the blockchain.
The DMM Protocol acts as a bridge between Ethereum digital assets and real-world assets, allowing holders to earn interest completely on-chain. DMM DAO is the governance arm of the protocol that leverages the best of blockchain and real-world assets to provide stable 6.25% earned interest income to consumers. DMM launched the DeFi Money Market using Chainlink’s secure oracles to validate and make viewable the asset backing on-chain.
Draper Goren Holm is aggressively searching for blockchain startups looking to integrate the DMM Protocol into any market, including the following categories:
- Decentralized Finance (DeFi)
- Consumer Lending
“If DeFi is going to ‘unbundle the bank,’ it’s going to need a more stable and professional backbone,” said Alon Goren, Founding Partner of Draper Goren Holm. “DMM is bringing that stability to the blockchain and enabling a whole suite of products to be built on top of their protocol.”
Part of Draper Goren Holm’s strategy includes investing in solutions being built on their portfolio companies’ technology. In addition to DMM, the firm is also actively incubating and accelerating startups leveraging the infrastructure of any other portfolio company, including Ownera, Totle, LunarCRUSH, and Casper Labs.
Josef Holm, Founding Partner of Draper Goren Holm, added, “It’s exciting to see the plethora of new practical solutions already being built on top of DMM’s protocol. We’re specifically looking for the movers and shakers who will leverage our entire arsenal of portfolio companies and their technologies to create the blockchain products and services of tomorrow.”
About Draper Goren Holm
Draper Goren Holm, a partnership between Tim Draper, Alon Goren, and Josef Holm, is a venture studio focused on accelerating and incubating early-stage blockchain and fintech startups, while simultaneously producing leading blockchain and cryptocurrency events, Security Token Summit and LA Blockchain Summit. Portfolio companies include Totle, Ownera, Innovesta, LunarCrush, Degens, Giftz, Vertalo, Coinsquad, CasperLabs, Element Zero, DeFi Money Market, and more.
For more info, visit https://drapergorenholm.com.