Crypto Credit Protocol Debt DAO Closes $3.5 Million Seed Round Led by Dragonfly Capital

Crypto credit protocol Debt DAO closed a $3.5 million seed round led by Dragonfly Capital with participation from GSR, Numeus, Fasanara Capital and others. Debt DAO is said to provide revenue-based financing for cryptonative entities (both DAOs and protocols) through a smart contract called "Spigot", which secures borrower's on-chain cash flows to automatically repay lenders.