This funding will be used to build a world-class team of finance and technology experts and enable us to strengthen our position as the leader in fixed interest rate borrowing and lending on Ethereum. With the vast majority of lending in the traditional finance system done at fixed rates, as opposed to the variable and often volatile rates common in crypto, Notional’s offerings are critical to expanding the mainstream adoption of DeFi.
What is Notional?
Notional is the first fully decentralized ethereum-based protocol for borrowing and lending at fixed rates. In the three months since launching in mid-January 2021, the protocol has been a terrific success, attracting more than $17M in TVL and executing $10M in loans.
Why the World Needs Notional
People borrow money to help them plan for the long-term, and long-term planning requires fixed rates. People borrow money so they can buy a house or a car. Businesses borrow money to invest in their expansion. In either case, they might pay off their debt over years or even decades. In order to plan for the long-term, people need to know what their costs will be — they need fixed rates. Notional’s fixed rate lending protocol on Ethereum gives users the certainty needed to plan for the future without relying on entrenched and exploitative financial institutions. This core belief is why we started Notional, and we’re excited to see that users agree.
Notional users are borrowing against their crypto to invest in their businesses, purchase land, and even to ditch their mortgage altogether by becoming their own lender. This was a monumental first for DeFi and we can’t wait to see what other traditional use cases Notional can enable in the crypto space. Our initial users have proven to us that people want an alternative to the traditional financial system — one that is open, transparent, and leaves them in control of their finances.
What’s Next For Notional?
Notional’s upcoming V2 will be a big step toward unleashing even more potential in DeFi and continuing to unchain users from the traditional financial system. This fundraise helps us put the right team in place to make it happen and build high-quality products that meet the demands of a new financial system. We know that Notional’s great strength is the blend of expertise in finance and technology that the team brings to the table, and we couldn’t be more excited to have that same expertise reflected in our investors. Their deep background in crypto and technology as well as their level of financial sophistication is unparalleled within the crypto VC world.
If you also believe in our vision of building a free, open and useful financial system, let us know. We’re looking for driven and passionate engineers and operators to join our team. Please reach out at firstname.lastname@example.org.
Thanks for taking the time to learn more about Notional. Follow us on Twitter, join our Discord, or check out our website to learn more. Join our mailing list to stay updated on V2 and other exciting developments!
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