DeFi for the Small Guy: Algorand-Based Tinyman Raises $2.5M Ahead of DEX Launch

Posted on by American Coins & Gold

DeFi for the Small Guy: Algorand-Based Tinyman Raises .5M Ahead of DEX Launch
Tinyman, an automated market maker (AMM) on the Algorand blockchain, recently raised $2.5 million and is expected to launch in full on Thursday.It joins a crop of projects seeking to attract decentralized finance (DeFi) users to new chains. Be it Trader Joe on Avalanche or Fantom quickly surpassing $5 billion in locked value, traders are increasingly finding alternatives to the high fees associated with Ethereum-based DeFi.Tinyman raised its $2.5 million from 20 investors, including Borderless Capital, Arrington Capital and The LAO. Genesis Capital, Digital Currency Group (the parent company of CoinDesk), BlockTower Capital and GoldenTree Asset Management are also investing.…