New Tokenized Bitcoin BoringDAO Raises $1.5M

DeFi project BoringDAO has raised $1.5 million to bring at least 1 million Bitcoin (BTC) to the DeFi space, according to a press release published on October 8. 

• Scheduled for launch sometime in October, the team describes their overall goal as wanting to wrap all assets into the Ethereum ecosystem

• Investors include DeFiance, Hashkey, SNZ, Youbi, Altonomy, Puzzle Ventures, SnapFingers and some BTC miners

• The protocol will feature the native token BOR, along with farming and minting mechanisms to obtain the token

• Tokenized Bitcoin has been growing rapidly with the DeFi boom, with Wrapped Bitcoin accounting for the vast majority