March 21, 2022
GARD is proud to announce a strategic raise of $1.75 Million, the round being led by Borderless Capital, with additional investment from Master Ventures, Big Brain Holdings, Stealth Capital, and the Algorand Foundation.
GARD is a decentralized lending protocol and stablecoin built to unlock the liquidity within Algorand Governance. Users will be able to mint GARD, using their Governance commitment as collateral, creating liquid staking options for the 50,000 Governors that are currently staking 2.8 Billion ALGO.
GARD’s mission is to create widespread financial freedom and improve capital yields for Algorand natives. The ability to borrow a $1 stablecoin while simultaneously increasing ALGO yield will have a dramatic effect on liquidity in Algorand DeFi. Users will be able to enjoy the best of both worlds – the importance of voting in Algorand Governance, plus the freedom to deploy capital in the greater ecosystem and beyond. It stands to reason that Algorand TVL could rise significantly thanks to GARD’s unique functionality.
The GARD team will deploy the capital raised to continue the rapid development of the GARD Protocol. It’s of the utmost importance for the team to invest in the continuous improvement of the protocol by expanding the team, building out the product suite, and conducting further audits.
Co-Founder Rylie Rueda commented on the successful fundraise: “Bringing in Borderless Capital as a co-founding investor is a massive step in cementing GARD as the stablecoin of choice for Algorand Governors. The GARD Protocol’s mission, to create utility that pays the user, is now one step closer to fruition. This should in turn create a positive feedback loop in on-chain value. Borderless’ commitment to the GARD team has been a catalyst driving innovation in our project and across the Algorand ecosystem thanks to other projects sharing our vision. We believe that with Borderless, and our other partners, we are bound to succeed in our mission and be good stewards to all stakeholders. We’re thrilled to work together and build out Algorand’s DeFi infrastructure for all current and future participants.”
GARD will be launching for Algorand Governance Period #3, starting Q2 2022.
GARD is the world’s first algorithmic stablecoin on Algorand’s blockchain. Users can participate in governance, earn rewards, and leverage their existing ALGO as collateral in exchange for a stable line of credit that pays them. GARD’s web application will be a one stop shop for users looking to interact with the greater Algorand ecosystem as more and more Governors familiarize themselves with casting votes through our system. This is made possible via the simple, secure and portable DAO tooling we are deploying within the ecosystem that has become essential infrastructure for more mature blockchains. This system will enable billions of locked ALGOs to regain their full utility while participating in governance. For more information, visit: https://www.algogard.com
About Borderless Capital
Borderless Capital is a modern financial institution investing capital and co-building financial products that accelerate access, bootstrap adoption, and create value globally through the Algorand Borderless Economy. We do not stop with just investment. We also provide guidance and mentorship to grow our portfolio companies into successful and category leading businesses. As a thought leader in blockchain with deep expertise in the Algorand ecosystem, we advise our portfolio companies on go-to-market strategies to effectively build their network effect. In short, we leverage the synergy of our portfolio, partners network, and domain expertise to create value for everyone.
For more info: www.borderlesscapital.io
Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for DeFi, financial institutions, and governments to smoothly transition into FutureFi. For more information, visit www.algorand.com
About Algorand Foundation
The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy. For more information, visit https://algorand.foundation
- Rylie Rueda