Venture Port is DeFi’s license-free risk management market. Today, it launched a seed round of US$3.25 million on the mainnet. It was jointly led by Framework Ventures and Pantera Capital, and received funding from Bain Capital Ventures, Digital Currency Group, Coinbase Ventures and Additional support from Nima Capital.
This release makes Riskport the first fully automated and fair risk management market for DeFi participants in history.
Previously in the closed beta stage, the platform locked in liquidity of nearly 2 million US dollars. Risk Harbor also has a business on Polygon, uniquely using an automated and fair algorithmic claim process to protect users from smart contract attacks in a completely safe and objective manner. The efficiency of this system also allows participants to enjoy instant claims and payment processes , And at the same time provide the lowest rate based on market-informed dynamic pricing.
Venture Port was co-founded by Raouf Ben-Har and Drew Patel. It operates as a two-way market where DeFi depositors can purchase capital protection in DeFi projects; while others can underwrite the protection in exchange for premiums.
“Existing risk management platforms have a prisoner’s dilemma. These agreements depend on the insurer who decides whether to pay the claim. Naturally, the insurer wants to maximize the sale of the policy while minimizing the number of claims paid. In this case The policyholder is subject to misplaced underwriters and has no other right of recourse. Use risk ports, transparent and fair smart contracts to determine whether the claim is valid, thereby eliminating third-party intermediaries and creating a completely fair and inclusive claim process.”
– Drew Patel, co-founder of Venture Harbor
The salary increase will support Risk Harbor’s expansion of cross-chain protection services to adapt to various agreements and needs.
In addition, these funds will enable Venture Port to expand internal operations and R&D for future products. In anticipation of the launch of the mainnet, these funds have also been used to design an improved user interface, focusing on providing retail and institutional investors with a simple, pleasant and informative user experience.
In addition to the participation of major funds, an impressive group of angel investors also contributed to the financing, including Anthony Pompliano of Pomp Investments, Noah Jessop of Proof Group, Ashleigh Schap of Uniswap, and Nikil of Alchemy Viswanathan and Joe Lau, Terra Money’s Do Kwon, Zapper’s Seb Audet, BarnBridge’s Tyler Ward, and Polygon’s former Ashish Rajpurohit.