MIAMI, Feb. 16, 2022 /PRNewswire-PRWeb/ -- Alpine— a new Web3 protocol that helps users automate their savings and grow their crypto holdings — announced today that it closed an oversubscribed $1.8M pre-seed round led by Alex Pack (Former Managing Partner and Co-Founder of Dragonfly Capital) and Ed Roman (Hack VC). The Alpine team will use the funds to accelerate the development and launch of their public testnet.
The round also included participation from Shima Capital, Script VC, and leading founders and operators from the crypto and traditional technology ecosystem, including Jaynti "JD" Kanani (Co-Founder, CEO of Polygon), Forest Browning (Co-Founder of Audius), Daniel Nadler (Founder of Kensho, acq. S&P), Stanford Liu (Head of Research at Terra & Mirror), Cecilia Li (Formless Capital), and more.
"We are still in the early days of Web3 and DeFi, and believe there is a significant opportunity to democratize access to wealth creation with as little as one dollar," said Tarik Moon, Founder and CEO of Alpine. "These funds are the first step in helping us bring the benefits of Web3 to the next 100 million retail customers."
After examining the current pitfalls limiting the growth of the space, the Alpine Team determined that simply building an application layer would be insufficient to solve the challenges of a poor UX and expensive transaction fees. To that end, they set out to build the first protocol that would merge the speed and cost benefits of chains like Polygon, Solana, etc. with the liquidity benefits of established Layer-1s like Ethereum.
What emerged was the idea for Alpine One Protocol, the first true cross-chain asset-management protocol that can be used by all. Current solutions have attempted to solve the fragmentation problem by aggregating protocols on dashboards, creating multi-chain views, and providing access to bridging solutions. Unfortunately, they continue to perpetuate the core issues that have limited widespread adoption — complexity and high transaction costs. With Alpine One, diversification and affordable investing is built-in so that any investor, small or large, can now access countless assets and protocols from a single, simple, and affordable location.
Stanford Liu of Terra / Mirror, expressed, "Similar to innovations such as ETFs or mutual funds in traditional finance, I believe Alpine is a groundbreaking tool that will enable retail investors to easily participate in the DeFi economy and get returns that are orders of magnitude better than traditional financial institutions."
Moreover, the Alpine dApp, the first application built on the protocol, will provide crypto-native and crypto-curious users alike a simple, streamlined experience that makes investing in crypto as easy as buying an ETF. Users can connect their bank accounts or crypto-wallets and purchase a number of diversified baskets that can both generate yield and provide broad asset exposure — all with near-to-zero fees.
Jaynti "JD" Kanani of Polygon shared, "I'm very excited about Alpine's mission to expand economic opportunities for all investors. DeFi is one of the fastest-growing segments in blockchain technologies, and we believe Alpine will open access to DeFi for millions of investors."
The team is comprised of seasoned builders with experience in traditional technology, blockchain, and quantitative finance at institutions like Goldman Sachs, DE Shaw, Google, and Salesforce. CEO and Founder, Tarik Moon, came up with the idea based on his time at Goldman Sachs applying proven practices to help investors maximize returns while minimizing risk. The early team identified that high transaction costs and complex user experiences in DeFi today are holding back widespread adoption and founded Alpine to solve these known pain points and make the benefits of DeFi investing accessible to all.
About Alpine
Alpine is a Web3 protocol and dApp that helps users automate their savings and grow their crypto holdings by getting rid of high fees and complexity. Alpine is founded by experienced blockchain founders with backgrounds in top financial institutions and technology companies including Goldman Sachs, DE Shaw, Google, and Salesforce, and is backed by top tier investors including the founders of Polygon, Audius, and Dragonfly Capital.
Links:
Website: https://tryalpine.com/
Twitter: https://twitter.com/Alpinedefi
Medium: https://medium.com/@Alpinedefi
Media Contact
Nick Rodriguez, Melrose PR, (310) 260-7901, [email protected]
SOURCE Alpine
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