Unchained Capital Raises Seed Round
We’re excited to announce our seed round funding of $2.995m, including $595k converted from SAFE notes.
Our investors for this round include Michael Komaransky, formerly of Cumberland Mining; Brian Spaly, co-founder of Bonobos and Trunk Club; Mike Erwin of Ecliptic Captal; and Ezra Galston of Starting Line
It is our privilege to work with these great investors.
Michael Komaransky, a pioneering bitcoin trader and investor, Mike Erwin, a veteran Austin investor, and Ezra Galston, an early VC in the crypto space, will also be joining our board. This milestone brings us to our next step in growth and expansion of our operation.
Ethereum Lending is open to the public
Unchained Capital is now lending against Ethereum.
Since opening Bitcoin-collateralized lending to the public 6 months ago, Ethereum has been our most requested cryptocurrency to collateralize. After gathering this feedback from customers, we worked carefully to evaluate the technology and business requirements needed to support ETH lending safely and securely.
We concluded that the existing solutions for ETH collateral vault and storage were inadequate. In March, we released the culmination of months of development and testing: our own open-source, highly secure, low functionality, comprehensively tested Ethereum multisig vault which interfaces with hardware wallets.
In conjunction with our open-source release, we began a bug bounty program and engaged Hosho, a leading blockchain security firm, to thoroughly review our smart contract line-by-line.
Hosho and bounty reports have found no security issues of any severity to date, and members of the Ethereum community have started to fork and engage with our open source solution to meet their own needs.
With Ethereum custody integrated into our lending platform, we worked privately with existing customers in a pilot program. Today, we’re ready to offer Ethereum lending to a wider audience!
If you want to leverage your ETH, consider applying for a loan with us.
Friends don’t let friends sell Ethereum.