Hashed Leads $7.5 Million Investment in Blueprint Finance for DeFi Innovation
Hashed, a Korean blockchain investment firm, has made an investment in Blueprint Finance, a provider of cryptocurrency liquidation solutions. This investment round, amounting to $7.5 million (approximately 10 billion KRW), was led by Hashed and Tribe Capital, and saw participation from investors such as SALT, Hypersphere, Hyperithm, and Ava Labs.
Blueprint Finance was established during the crisis of FTX in 2022, inspired by witnessing the resilience of the blockchain system and recognizing the need for a more robust and capital-efficient decentralized finance (DeFi) market following the market’s collapse.
Amid rising global economic uncertainty, the market for blockchain-based financial transactions is attracting attention. However, the absence of solutions to protect investors leveraging volatile assets has led to widespread asset liquidation.
To address this challenge, Blueprint Finance has developed Concrete Protocol, a blockchain-based credit market that safeguards leveraged investors from liquidation and provides yields to liquidity providers to fulfill short-term capital needs.
Concrete Protocol aims to reduce the necessity of holding idle capital by shielding users’ leveraged positions from the risks associated with collateral value depreciation. Utilizing a series of quantitative methodologies, the project calculates the probability of collateral value depreciation over time and establishes a fully automated protection agreement. This agreement ensures funding is automatically provided if the price nears the liquidation threshold.
Nic Roberts-Huntley, co-founder and CEO of Blueprint Finance, commented, “With the Concrete Protocol, our goal is to address the most pressing issues in cryptocurrency and establish a solid foundation for blockchain-based credit. DeFi is at a pivotal inflection point, with cryptocurrency-based lending expected to see significant growth. We aim to not only bolster existing decentralized finance activities but also to forge new markets within DeFi.”
Baekkyoum Kim, a partner at Hashed, shared, “Hashed believes that the Concrete Protocol will play a crucial role in restoring transparency and trust within the decentralized finance system. The Blueprint Finance team is laying the groundwork for the market system, drawing on their extensive experience in both traditional finance and blockchain startups across various domains.”
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