TechFlow news, on December 10, according to The Block, Neptune Protocol, a decentralized lending platform built on the Eclipse blockchain, has raised $3.9 million in seed funding from investors including Bloccelerate, Animoca Ventures, CMS Holdings, and Maelstrom.
The project was co-founded by David Mass, former executive at Citigroup and AngelDAO, along with Meir Bank. It plans to launch USDN, an over-collateralized stablecoin powered by the Solana Virtual Machine (SVM). Neptune has partnered with multiple ecosystem players such as Switchboard, Pyth, Nucleus, Stride, and Solar Dex, and is expected to launch on mainnet in Q4 2024. The funding will be used for protocol development, security audits, and team expansion.
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