Tenor Labs Raises $2.5M for Fixed-Rate Lending Revolution
1min read Fixed-Rate Lending Protocol Tenor Labs Secures $2.5M in Seed Funding Led by cherry.xyz
On-chain fixed-rate lending protocol Tenor Labs has successfully raised $2.5 million in a seed round, with cherry.xyz leading the investment. The round also saw participation from Coinbase Ventures and Lattice, among other notable investors. The funds will be used to accelerate Tenor's development and expansion.
Tenor is a non-custodial, self-executing fixed-rate lending protocol that enables the creation of permissionless markets. It efficiently matches lenders and borrowers, fostering a more liquid and accessible lending environment. The protocol's fixed-rate nature provides users with predictable returns and borrowing costs, reducing the volatility associated with variable-rate lending.
The completion of this seed round marks a significant milestone for Tenor Labs, as it continues to innovate in the decentralized finance (DeFi) space. With the support of its investors, Tenor Labs aims to further develop its protocol, enhance its user experience, and expand its reach within the global DeFi ecosystem.
