Concrete Protocol Launches with $7.5M to Build Safer Borrowing in Crypto Lending Markets
• Blueprint Finance raises $7.5M, emerges from stealth to launch Concrete Protocol, an on-chain credit market providing liquidation protection and yield opportunities • Aims to become the go-to protocol for crypto borrowing by 2024, working with retail users, companies, and liquidity providers • Founded in 2022 after FTX collapse revealed need for more robust, capital-efficient DeFi lending markets • Concrete Protocol layers on top of existing $20B DeFi lending market, minimizing liquidation risk and gas fees • Backers include Hashed, Tribe Capital, SALT, Hypersphere, Lightshift, Portal Ventures, and Awesome People Ventures