RociFi, a decentralized zero and under-collateralized lending protocol, has announced completing a seed funding round of $2.7 million USD from Arrington, Goldentree, Nexo, LD Capital and Skynet Trading.
A well-known issue in DeFi is the proliferation of fraudulent actors, i.e. hackers, phishers, scammers, and many more. These exploits cost users and protocols millions of dollars every year and continue to grow in size and scope.
Under-Collateralized lending is a fundamental building block that has yet to be solved within DeFi. Current blockchain lending is highly capital inefficient due to the overcollateralization of loans given the pseudo-anonymity of borrowers.