Blueprint Finance emerges from stealth today with $7.5M in funding. Blueprint’s flagship product is the Concrete Protocol, an appchain purpose built for on-chain debt and credit. Concrete powers higher yields, liquidation protection, and advanced predictions across all of DeFi, starting with money markets.
The financing was led by Hashed and Tribe Capital, with participation from SALT, Hypersphere, Lightshift, Awesome People Ventures, Veris Ventures, WWVentures, Avalanche Foundation, Kronos Research, Terra Nova, and Hyperithm. Blueprint’s Pre-Seed round was led by Portal Ventures, with participation from Picks & Shovels and Canonical Crypto.
Blueprint Finance was founded during the collapse of FTX in 2022, where the team observed the resilience of on-chain systems, and the need for more robust and capital-efficient DeFi markets. The implosion of centralized lenders created an opportunity for massive volume growth for on-chain money markets. However, there is a complete void in solutions and liquidity for DeFi users to protect positions when leveraged against volatile assets, resulting in asset liquidation.
Concrete is the foundational infrastructure that can be used across leading money markets to solve the problem of liquidations and foster the next phase of DeFi growth.
The Concrete Protocol allows users to minimize the need for idle capital on hand by protecting leveraged positions against collateral depreciation. Concrete then offers attractive yield opportunities for liquidity providers to fund these protective tranches of capital for positions in need. Using a series of quantitative methodologies, Concrete calculates the probability of collateral depreciation over time and creates a fully automated protection agreement to fund a position as it approaches liquidation thresholds.
Nic Roberts-Huntley, Co-Founder & CEO of Blueprint Finance, said, “This financing is a significant milestone for us as a company. With Concrete, we are in a position to solve the most pervasive issues in crypto and build the foundational layer for on-chain credit. DeFi is approaching a major inflection point, and lending activity will massively increase. We support existing activity and importantly unlock brand new markets in DeFi.”
Blueprint’s team is led by an experienced team of quantitative developers, public/private market investors, researchers, and crypto native protocol engineers from Point72, Morgan Stanley, Galaxy Digital, Caxton, Tala, Polkadot, Eco, and more.
“We believe Concrete will be the key driving force behind rebuilding transparency and confidence in a secure on-chain financial system. The founding team brings a wealth of knowledge from both compliant financial backgrounds and crypto native experiences to build this foundational layer”, said Baek Kim, General Partner, Hashed.
“Blueprint Finance was born during the massive de-leveraging of crypto assets in 2022. At the time, investors and traders had few tools at their disposal to protect themselves from black swan events. Blueprint is building decentralized software that could help safeguard future traders from major market events – this is critically important to the safety and growth of crypto worldwide,” said Boris Revsin, Managing Director, Tribe Capital.
“The team at Blueprint Finance uniquely merges institutional finance expertise with DeFi products. Their first offering, Concrete, unlocks capital efficient risk mitigation strategies that can be deployed on top of protocols across the existing $20B lending market. Our industry needs teams of this caliber and products like this for the next chapter of growth,” said Evan Fisher, General Partner, Portal Ventures.
About Blueprint Finance
Blueprint Finance is building the Concrete Protocol, a native on-chain credit market that provides liquidation protection and yield optimization. Concrete is a foundational infrastructure layer supporting all verticals of DeFi, from lending to trading and beyond. The company is backed by Tribe Capital, Hashed, Portal Ventures, and SALT.
Concrete Protocol Website: https://www.concrete.xyz/
Concrete Protocol Twitter: https://twitter.com/ConcreteXYZ
Blueprint Finance Website: https://blueprintfinance.com/
Blueprint Finance Twitter: https://twitter.com/Blueprint_DeFi