DeFi Protocol iZUMi Finance Raises $22M
The fundraise was more complicated than a typical “cash in, equity out” arrangement. The company issued an iZUMi zk-Fund through strategic partner Solv Protocol that is a semi-fungible token (SFT). Investors who purchase the fund receive an SFT in their wallet to represent their share, making them a limited partner of the fund. Upon maturity, investors can redeem the SFT for their principal.
