One of the most compelling ideas in web3 is composability — the ability to combine and remix internet services like lego bricks. @element_fi, a prime example of what composability enables. I’m excited to share today that @a16z crypto is investing in Element’s Series A. 🧵 
Element has built a new DeFi primitive that enables capital-efficient fixed and variable yield markets. We led @element_fi’s seed round earlier this year, and they’ve made rapid progress since. medium.com/element-financ…
One use for Element is treasury management for DAOs and traditional institutions. Element eases the accounting process and reduces the need to actively manage funds. Their fixed-rate yields are consistently among the highest available app.element.fi/fixedrates/
Element is both built on other building blocks and a building block itself. It plugs into many other protocols to deliver its fixed rates, and provides developers with lots of possibilities for building structured products on top of it.
Since the @element_fi protocol launched in June, it has surpassed $180 million in TVL and launched terms for 7 asset classes, including USDC, DAI, and WBTC. @DarenMatsuoka’s dashboard shows this in real-time dune.xyz/DarenMatsuoka/…
We also like how Element is additive to the rest of DeFi, adding liquidity to foundational protocols like @CurveFinance , @BalancerLabs, @iearnfinance, @compoundfinance , @AaveAave
Co-founders @wjvill & @JonnyRhea have the ambition, technical chops, and DeFi expertise to keep @element_fi at the cutting edge for years to come. We are excited to be their partners.
(btw, none of the above should be taken as investment advice; see a16z.com/disclosures for more info)
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