TechFlow news, according to CoinDesk, Burrow, a lending protocol in the NEAR ecosystem, has raised $5 million in funding. The round was backed by Dragonfly Capital, ParaFi Capital, Jump Crypto, QCP Capital, Lemniscap, Mentha Partners, Warburg Serres Investments, DeFi Capital, D1 Ventures, GFS Ventures, SevenX Ventures, and Metaweb Ventures. The funds will be used to bootstrap initial trading liquidity.
Notably, users can deposit NEAR, DAI, USDT, USDC, ETH, and wBTC on Burrow to earn yield or borrow at customized interest rates. In the future, users will also be able to unlock yield staking and auto-repayment loans for certain interest-bearing assets, including stNEAR, stSOL, and stFTM.
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