Draper Goren Holm Backs Decentralized Finance Ecosystem Mavryk Finance
In pursuit of advancing decentralized finance, Mavryk Finance earns backing of Santa Monica-based blockchain venture capital studio and fund Draper Goren Holm.
Santa Monica, CA – January 3, 2022 – Draper Goren Holm announced today that Mavryk Finance has become the firm’s newest portfolio company. The SoCal Venture studio and fund, led by Tim Draper, Alon Goren, and Josef Holm, has invested in the decentralized finance banking ecosystem that is purposely designed as a non-custodial, community governed financial platform that allows users to borrow, earn, and unlock the world from legacy financial systems.
“We’re thrilled to welcome Mavryk Finance into our family as Alex Davis and team have a level of understanding of the financial industry that few in the space possess. This understanding positions them well towards becoming the industry leader in the decentralized finance space not just within the Tezos ecosystem but beyond,” said Alon Goren, Founding Partner at Draper Goren Holm.
In commenting on the venture, Alex Davis, CEO of Tezos Dynamics, the primary contributor to the Mavryk Finance protocol, spoke on the importance of finding the right fit throughout the process. “When seeking funding in the Web3, decentralized finance space, finding a partner who not only excels at identifying highly successful startups but has unparalleled experience in the blockchain technology space was a top priority for our team,” said Alex. “Having the support of Draper Goren Holm, led by Tim, Alon, and Josef, will begin to pay dividends towards our success immediately.”
About Mavryk Finance
Mavryk is a decentralized, non-custodial, community-governed financial platform that gives users independent control of their finances. Mavryk enables it’s users to take a passive or active role in the operations of the DAO platform by either delegating their tokens or operating a “Satellite” node. Satellite nodes act as representative curators for the platform, and also form an array of nodes for Mavryk’s decentralized oracle system. Stakeholder participation is incentivized via rewards for governance & signing oracle price feeds, in order to bring stability and prosperity to the platform and it’s users.
Mavryk’s mission is to launch a suite of decentralized finance products on the Tezos blockchain, designed to bring financial freedom to all of its users and to bridge the gap between on-chain finance and the real world. More information can be found at https://mavryk.finance
About Draper Goren Holm
Draper Goren Holm, a partnership between Tim Draper, Alon Goren, and Josef Holm, is a venture studio and fund focused on accelerating and incubating early-stage blockchain and fintech startups, while simultaneously producing the industry’s top cryptocurrency events including Security Token Summit, Global DeFi Summit, and LA Blockchain Summit. Portfolio companies include LunarCRUSH, Plenty Defi, Tezos Stable Technologies, Totle, Ownera, Degens, Giftz, Vertalo, CasperLabs, Rivet, Simetria and more. More information can be found at https://drapergorenholm.com.