Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion 1

Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion 2

On May 7, the decentralized finance (defi) startup General Protocols revealed the team has raised over $1 million from investors. The creators of General Protocols have introduced innovative projects on the Bitcoin Cash network such as Anyhedge, and have also participated in helping forward the Bitcoin Cash Node (BCHN) project and Flipstarter.cash.

The BCH community was pleased to hear that a startup dedicated to the Bitcoin Cash blockchain and decentralized finance (defi) has raised $1 million this week. The company called, General Protocols, is behind the Anyhedge project which is a blockchain-enforced synthetic derivatives protocol for Bitcoin Cash (BCH). News.Bitcoin.com reported on the project during the first week of April. According to the team’s press release, the latest funding stems from the cryptocurrency trader Marc De Mesel and a variety of other investors. The team is thrilled to get funding to push the startup’s goals forward in order to deliver defi to the BCH community.

“We are delighted that aligned investors are supporting us in our vision to bring defi to Bitcoin Cash,” said John Nieri a.k.a. emergent_reasons, President of General Protocols. “We are building a team of dedicated supporters of peer to peer electronic cash here at General Protocols.”

Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion

Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion

General Protocols team members helped with the construction of Flipstarter.cash, a noncustodial fundraising platform. Additionally, the startup also volunteered efforts toward the new Bitcoin Cash full node implementation called BCHN. The project Anyhedge aims to be the first defi protocol on any branch of Bitcoin and the platform will launch in cooperation with Cryptophyl’s new noncustodial exchange, Detoken.

Further two former Bitcoin.com team members Marcel Chuo and Rosco Kalis have joined the General Protocols company. Kalis is well known for his work on the Cashscript protocol in order to create a new generation of smart contracts on the Bitcoin Cash network. Chuo will handle business relationships and his background includes global expansion and coordinating with well known tech firms like HTC. During the investment announcement for $1 million into General Protocol’s infrastructure, Kalis said he looks forward to working on the blockchain-enforced synthetic derivatives protocol for Bitcoin Cash.

“I’m excited to be working on Anyhedge with the great team at General Protocols,” Kalis explained during the announcement.

What do you think about the $1 million dollar investment into General Protocols? Let us know in the comments below.

Tags in this story
$1 million, $1M, BCH, BCH Network, BCHN, bitcoin cash, Cryptophyl, defi, defi protocol, derivatives protocol, Detoken, emergent_reasons, Flipstarter, fund raising, General Protocols, Investors, John Nieri, Marc De Mesel

Image Credits: Shutterstock, Pixabay, Wiki Commons, General Protocols, Anyhedge

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin49,195 0.22 % 0.17 % 14.05 %
Ethereum4,185.8 0.24 % 0.27 % 2.43 %
Binance Coin568.51 0.10 % 2.28 % 7.02 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana188.91 0.20 % 0.74 % 5.76 %
Cardano1.340 0.04 % 0.45 % 16.11 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
XRP0.7942 0.37 % 0.84 % 17.86 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Terra63.05 2.18 % 7.44 % 26.17 %

bitcoin
Bitcoin (BTC) $ 48,936.00
ethereum
Ethereum (ETH) $ 4,165.29
binance-coin
Binance Coin (BNB) $ 565.04
tether
Tether (USDT) $ 0.99999
solana
Solana (SOL) $ 186.76
cardano
Cardano (ADA) $ 1.33
usd-coin
USD Coin (USDC) $ 0.998755
xrp
XRP (XRP) $ 0.794954
polkadot
Polkadot (DOT) $ 26.90
terra-luna
Terra (LUNA) $ 62.28