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In Token Rounds, the Aurora Protocol’s Aurigami Raises $12M

Aurora network-based DeFi technology Aurigami has raised $12 million in token rounds.

Out of the entire funding, $9.5 million was raised through a private token sale, and $2.5 million was raised through an IEO on KuCoin, Bybit, and Impossible Finance. The IEO ended in May, and the private token sale ended in February.

The private token round was jointly led by the crypto venture capital firms Polychain Capital and Dragonfly Capital. Other investors included QCP Capital, Jump Crypto, Amber Group, Alameda Research, and Coinbase Ventures.

Alex Shevchenko, the CEO of Aurora, Matthew Tan, the CEO of Etherscan, Santiago Santos, a former partner of ParaFi, and Bobby Ong and TM Lee, co-founders of CoinGecko were among the angel investors who took part.

PLY, the native token of Aurigami, was bought by investors. According to CoinGecko, it is currently trading at approximately $0.001, down 95% from its all-time high of roughly $0.02.

This year saw the launch of Aurigami. It is a borrowing and lending protocol on the NEAR blockchain’s Aurora subnet. According to data from DeFi Llama, Aurigami is presently the second-largest lending protocol on Aurora after Bastion. It currently has a TVL of more than $20 million, compared to Bastion’s TVL of more than $130 million.

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