DeFi Prime Broker Blueberry Raises $2.5M Series A

Key Takeaways

• Blueberry Protocol has raised $2.5 million in Series A funding led by WSC and Varys Capital.
• Blueberry offers decentralized access to generalized leverage for Ethereum-based DeFi assets.
• By integrating advanced risk management tools and a sophisticated leverage framework, Blueberry seeks to enhance accessibility, capital efficiency, and profitability for DeFi users.

Blueberry Protocol, a decentralized prime brokerage terminal, has raised $2.5 million in a Series A funding round led by White Star Capital and Varys Capital. The investment round also attracted other prominent investors, including SNZ Capital, Alchemix DAO, Aquanow, members of Dewhales, members of DCD, GateCap Ventures, Nayt Technologies, and MonkeVentures.

The funding comes as Blueberry Protocol aims to redefine prime brokerages in the decentralized finance (DeFi) space, offering users access to generalized leverage for DeFi on Ethereum. This move is expected to open up new opportunities through advanced risk management and higher leverage compared to traditional prime brokerage services.

Blueberry Protocol integrates risk management tools with a sophisticated leverage framework, seeking to expand accessibility, boost capital efficiency, and improve profitability for a wide range of DeFi users. With the recent resurgence of the DeFi sector, which has now exceeded $100 billion in Total Value Locked (TVL), and the approval of Ethereum ETFs, Blueberry finds itself well-positioned to lead institutional DeFi adoption.

“As institutional participation increases, flexible prime brokerage services become crucial for enabling secure and efficient trading, providing liquidity, and managing portfolios in the crypto market. Blueberry Protocol caters to both conservative whales and high-stakes degens,” the company said in a statement.

Cameron Coombes, Vice President at White Star Capital, highlighted the significance of Blueberry’s mission, stating, “We believe that the core ethos and purpose of decentralized finance is to allow users from all over the globe to interact and enact financial transactions in a self-sovereign and permissionless way.”

Darius Askaripour, Managing Partner at Varys Capital, emphasized the potential impact of Blueberry’s initiatives, noting, “Backed by a DeFi-native team, the Blueberry Foundation will be instrumental in developing essential building blocks for DeFi.”

Jonathan Thomas, CEO and Co-Founder of Blueberry Protocol, said, “By delivering industry-leading Loan-to-Value (LTV) ratios of up to 20x, we’re poised to revolutionize on-chain trading and yield strategies.”

Blueberry will primarily allocate the fresh funding towards team expansion and bolstering security measures. Blueberry Protocol also announced plans to offer early access to its native BLB tokens through Fjord Foundry and PancakeSwap events.

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