The time-limited token trading market Hourglass has completed a $4.2 million seed round financing, led by Electric Capital

2023-05-17 13:51:30

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ChainCatcher news, DeFi startup Hourglass announced the completion of a $4.2 million seed round financing, led by [Electric Capital](https://www.rootdata.com/zh/Investors/detail/Electric Capital?k=MjAx), with participation from Coinbase Ventures, Circle Ventures, Tribe Capital, hack.vc, and other angel investors.

Hourglass has launched the first-ever marketplace for time-limited trading tokens (TBT), a concept that tokenizes users' staked assets in DeFi protocols based on their locking time periods, essentially transferring ownership of the assets locked in the protocol to another buyer. Additionally, Hourglass will mark Lido's withdrawal queue, which could otherwise lead to "exit times of weeks or even months." This will allow users to "trade their position" to extract staked Ethereum while simultaneously gaining liquidity. (CoinDesk)

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