Framework Labs – a new "fintech studio" that incubates and supports projects in the decentralized finance (DeFi) space – has stepped out of the shadows with the announcement of a successful seed funding round.
- Announced Thursday, the $8 million investment was led by Station 13, a sister entity to sports media and technology holding company JDS Sports.
- Framework Labs sets out to be a "full stack partner," helping govern blockchain protocols, providing liquidity to decentralized exchanges, bootstrapping startups and building consumer apps, all with connections to DeFi.
- The firm – launched by the founders of DeFi investment fund Framework Ventures – claims to be the foremost staker on Synthetix and a key node operator providing data for Chainlink's oracles.
- "DeFi is not a spectator sport. Active participation, governance, building of consumer products, and advanced trading strategies are all part of the complex process of making a DeFi protocol successful," said Framework Labs co-founder Vance Spencer in a press release.
- The studio also claims to be the largest liquidity provider on the decentralized exchange (DEX) Uniswap.
- The seed funding will go towards expanding the firm's research, trading and engineering teams, providing further liquidity to non-custodial DEXs and incubating startups among other pursuits.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.