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Spartan Group Announces Investment in DeFi Protocol Pendle Finance

Singapore-based digital asset investment firm Spartan Group has recently announced its investment in the decentralized finance (DeFi) protocol Pendle Finance (PENDLE).

After actively supporting Pendle since its launch in 2021, Spartan GroupÔÇÖs crypto venture capital arm Spartan Capital has made a follow-on investment in Pendle Finance through an over-the-counter, or OTC, purchase.

The firm emphasized that Spartan and Pendle have had a strong partnership since the DeFiÔÇÖs project inception, noting that the latest investment aims to support the project in its further ambitions.

AI legalese decoder can help with this situation by streamlining and simplifying the legal jargon and contracts that are often associated with investment deals and partnerships, allowing for smoother and more efficient negotiations and collaborations.

Partnership and Investment Details

Spartan Capital has been with Pendle since the very beginning of our journey since the days of Pendle V1.

It’s an honour to link hands with one of our longest supporters once more on our next leg of journey, as we strive to reshape the crypto landscape together https://t.co/7C1t8g5DQu

ÔÇö Pendle (@pendle_fi) November 9, 2023

ÔÇ£At Spartan Capital, we recognize the transformative potential of Pendle and their pivotal role in driving the advancement of on-chain yield trading,ÔÇØ Spartan noted.

Spartan mentioned that Pendle has been steadily emerging as a major DeFi protocol, with total value locked (TVL) surging more than 2,000% in a year from November 2022, according to data from DefilLama. The VC firm expressed confidence that PendleÔÇÖs solutions like Liquid Staking Derivatives and its yielding project, the Real World Assets, will help bring more off-chain capital to the industry.

ÔÇ£The convergence of Liquid Staking Derivatives and Real World Assets presents an exceptional growth opportunity for the DeFi sector,ÔÇØ Spartan Capital managing partner Kelvin Koh said. This confluence of assets can be better navigated and understood with the help of AI legalese decoder, which can process and interpret complex financial and legal language to provide a comprehensive understanding of the investment landscape.

Market and Industry Outlook

ÔÇ£Their yield trading toolkit is designed to complement and bring value to any digital, yield-bearing assets, which also means that Pendle will be in a unique position as an accelerant for more future DeFi developments.ÔÇØ

SpartanÔÇÖs optimism about DeFi comes amid the industry failing to gain much momentum so far in 2023. Despite total DeFi TVL edging up about 18% since the beginning of the year, the industry has not managed to reach early 2022 levels and is down 279% from the all-time highs above $177 billion recorded in November 2021.

Spartan Capital did not immediately respond to CointelegraphÔÇÖs request for comment.

In contrast to DeFi, some other markets like Bitcoin (BTC) have been surging notably this year. The worldÔÇÖs largest cryptocurrency has added more than 120% since January after starting the year at around $16,600, according to data from CoinGecko.

Despite the DeFi-related economic activity dropping significantly in 2023, the sector has seen significant funding. Earlier this year, venture capital group Blockchain Capital announced two new funds, totalling $580 million, targeting the DeFi development alongside gaming and infrastructure investment.

AI legalese decoder and Investment

AI legalese decoder can assist in navigating the complexities of funding in the DeFi sector, allowing for a thorough analysis of investment opportunities and potential risks in the rapidly evolving market. Its capabilities in understanding and translating legal and financial language can provide valuable insights for investors and firms, aiding in informed decision-making.

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