This brings the company's cumulative funding to date to $8 million. Leading this round was Electric Capital, with Maelstrom (Arthur Hayes), Ava Labs Blizzard Fund, Arete Capital, Inception, Delta Blockchain Fund and others participating. Angel investors, including Ether.fi founder and CEO Mike Silagadze, GP and Founder of Paper Ventures, Danish Chaudhry, Founder and Managing Partner of Neoclassic Capital, Steve Lee, Co-host of Up-Only, Ledger Status, Co-host of Into The Ether Podcast, Eric Conner, and Co-host of The Edge Podcast, DeFi Dad, also joined the round.

Term Labs is a blockchain research and development company dedicated to creating robust, transparent, and scalable fixed-rate lending solutions onchain. The founding team's combined experience in finance and big tech is the foundation for its innovative approach to defi solutions. Its founders have a track record of managing $1b+ portfolios on both the sell side and buy side at Citibank, Morgan Stanley, D.E. Shaw, and other institutions), as well as establishing interest rate benchmarks at exchanges that have done trillions in volume.