Blockchain focused VC firm Draper Goren Holm has invested in Tezos Stable Technologies (StableTech), the Foundation for DeFi on Tezos. Draper Goren Holm led the recently closed seed round.
StableTech seeks to coordinate the development and deployment of open-source DeFi projects. Tezos Stablecoin Foundation (TSF) is a non-shareholder foundation with a mission of advancing Tezos DeFi.
Tim Draper, the namesake of the VC firm invested in the Tezos token sale in 2017. The Tezos public sale is one of the largest ever having generated around $232 million.
Tezos DeFi is said to be gearing up with the launches of the first Tezos tokens and Tezos DEXs. Draper Goren Holm is looking to lead the charge, by backing open-source projects including USDtz (the first USD-pegged stablecoin on Tezos), Tezos Finance (‘Tezfin’) lending platform, TEZEXliquidity exchange, Wrapped XTZ, and many more.
Beyond stablecoins and market tools, decentralized governance through the development of DAOs are another key facet of StableTech’s philosophy and endeavors, according to a note from the VC. Each Tezos DeFi platform released by StableTech aims to have a unique yield-generation structure. The majority of governance tokens for each platform are anticipated to be produced through staking.
StableTech’s governance is expected to announce soon their intention for a public sale for its TRU token (Trustee token). Holders of TRU token will receive a proportional share of the genesis tokens to each platform through sequential airdrops.
