Impossible Finance, a decentralized protocol, has been able to raise $7 million in their seed funding round with a number of angel and institutional investors participating. Impossible Finance launched on Binance Smart Chain in May, and was spearheaded by investors including Hashed and Alameda Research.
It intends to use the funding to bulk up its offerings, and create a multi-chain ecosystem to promote the growth of ‘DeFi composability and liquidity.’
There were 125 investors in total. IF is a typical decentralized finance project, with the ability to swap tokens and gain access to liquidity pools.
CMS Holdings said in a statement, “Creating a YCombinator-esque platform for teams building in DeFi will help take the ideas of developers and materialize them into working products.”