TechFlow reports that non-custodial fixed-income protocol Term Structure has announced the completion of a $4.25 million seed round led by Cumberland DRW, with participation from Decima Fund, HashKey Capital, Longling Capital, MZ Web3 Fund, among others. The total funding raised to date now amounts to $8 million.
Term Structure is a non-custodial fixed-income protocol, and its testnet is currently live on Ethereum's Goerli network. The protocol features two core markets:
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In the primary market, users can place orders to borrow or lend tokens at fixed interest rates with fixed maturity dates. Once an order is matched, borrowers receive the borrowed tokens and must repay their debt before maturity to reclaim their collateral. Lenders receive fixed-income tokens that can be redeemed for principal and accrued interest at maturity.
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In the secondary market, users can trade fixed-income tokens via an order book trading system.
