Hubble Protocol Closed $3.6 Million Seed Funding Round with Three Arrows Capital and others

TokenInsight news that Hubble Protocol, a Solana-based DeFi protocol, has closed a $3.6 million seed round with participation from Three Arrows Capital, Jump Capital, CMS, and others. Hubble is a "zero-rate" DeFi protocol for lending and structured products, and one of its core features is to allow users to mint a stable coin called USDH through collateralized deposits. The protocol is reportedly scheduled to go live next month and raise additional funds through an IDO in early 2022, after which it will gradually transition to a decentralized autonomous organization (DAO).