{"id":59184,"date":"2022-03-24T14:53:00","date_gmt":"2022-03-24T12:53:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59184"},"modified":"2025-09-04T20:32:24","modified_gmt":"2025-09-04T17:32:24","slug":"bastion-lending-protocol-raises-seed-round","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bastion-lending-protocol-raises-seed-round\/","title":{"rendered":"Bastion Lending Protocol Raises Seed Round"},"content":{"rendered":"<p>ParaFi Fund <a href=\"https:\/\/bastionprotocol.medium.com\/auroras-bastion-raises-seed-round-led-by-parafi-capital-3a64b60fbebc\">led<\/a> the seed investment round in Bastion, a lending protocol operating on Aurora, a second\u2011layer blockchain platform of the NEAR network. The total amount of fees in Bastion was not disclosed.<\/p>\n<p>The project also attracted investments from Jane Street, Digital Currency Group, Crypto.com, CMS and Manifold Trading. Among the angel investors were NEAR co\u2011founder Ilya Polosukhin and Terraform Labs\u2019 Director of Business Development Jeffrey Quan.<\/p>\n<p>As Bastion&#8217;s blog notes, the project has seen &#8216;explosive growth&#8217;. Within the first 24 hours after the mainnet launch on March 7, the protocol had $200 million in funds locked.<\/p>\n<p>An anonymous Bastion founder told The Block in comments that NEAR has the highest growth potential among all first\u2011level blockchains:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs the fastest network with Proof\u2011of\u2011Stake consensus and sharding, as well as excellent infrastructure and developer\u2011friendly tooling, NEAR has all the prerequisites to become the next \u201ccenter of gravity\u201d for DeFi.\u201d<\/p>\n<\/blockquote>\n<p>The publication also noted that Jane Street is one of the world&#8217;s largest market makers. For example, in 2020 its futures trading volume amounted to $17 trillion. In January 2022 a company representative in an interview with <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-24\/jane-street-says-crypto-trading-business-is-clear-growth-area\">Bloomberg<\/a> confirmed that Jane Street is exploring projects in the decentralized finance space.<\/p>\n<p>Earlier in February, Aurora developers were forced to <a href=\"https:\/\/u1f987.com\/en\/news\/aurora-protocol-team-imposes-transaction-fees-amid-network-congestion\">introduce a fee<\/a> for transactions on their network due to congestion.<\/p>\n<p>Subscribe to ForkLog news on Telegram:\u00a0<a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"noreferrer noopener\">ForkLog Feed<\/a>\u00a0\u2014 all the news feed,\u00a0<a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"noreferrer noopener\">ForkLog<\/a>\u00a0\u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ParaFi Fund led the seed investment round for Bastion, a lending protocol operating on Aurora, a second-layer blockchain platform of the NEAR network. The total amount of fees in Bastion was not disclosed.<\/p>\n","protected":false},"author":1,"featured_media":59185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1097,1216],"class_list":["post-59184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-lending","tag-near-cryptocurrency"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59184"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59184\/revisions"}],"predecessor-version":[{"id":59186,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59184\/revisions\/59186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59185"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}