Advanced Blockchain AG

  • WKN: A0M93V
  • ISIN: DE000A0M93V6
  • Land: Deutschland

Nachricht vom 11.05.2022 | 09:01

Advanced Blockchain has invested $250,000 dollars into MYSO Finance’s $2.4M seed round

DGAP-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Expansion
Advanced Blockchain has invested $250,000 dollars into MYSO Finance’s $2.4M seed round
11.05.2022 / 09:01
The issuer is solely responsible for the content of this announcement.

Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) announces their $250,000 USD  investment - through a subsidiary - into an early financing round of MYSO Finance. MYSO Finance is building a zero-liquidation loan protocol called IKARUS and has successfully closed their $2.4M US dollar seed financing round. Advanced Blockchain invested alongside other renowned venture funds such as Nexo and Hashkey.

MYSO plans to decentralize and further develop traditional options trading through its zero-liquidation loan protocol, named the IKARUS protocol. The goal is to extend traditional financial products with the novel possibilities of decentralized finance (DeFi). The IKARUS protocol is the first product of Myso Finance and it allows users to lend their cryptocurrencies and reduce their own liquidation risk with several benefits, namely, no liquidation risk, no liquidation penalty fees, no need to monitor their LTV factor or deal with the changes in borrowing costs.

Richard Malone who headed up the investment at Advanced Blockchain commented:
"Lending is by far the most adopted use case for DeFi. However, anyone that has used DeFi lending protocols knows the risk associated with liquidations and the resulting complications involved. We think Aetienne and Dominic have built an elegant solution to nullify liquidation risks through their Zero Liquidation Loan product and are excited to support them in their quest to solve the biggest pain point for decentralized borrowing and lending."

About MYSO Finance:
MYSO Finance was founded in early 2022, after being awarded as one of the winners at the ETHOnline hackathon in October 2021. MYSO Finance is an abbreviation for a Million Yield Structuring Opportunities and aims to combine concepts from the world of DeFi with TradFi to build game-changing financial products, starting with the IKARUS protocol as its first product.

About Advanced Blockchain AG:
Advanced Blockchain AG is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists and mathematicians dedicated to developing the future of Web 3.0. Group-wide, the team consists of more than 200 members, covering various disciplines enabling the firm to innovate in different ecosystems of the industry.

For more information about Advanced Blockchain AG and its various projects and investments, please visit: https://www.advancedblockchain.com/.



11.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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