News from the Wire

To hasten mass adoption: Draper Goren Holm doubles down on DeFi

Thursday, August 06, 2020 — 09:17:45 (EDT)

Los Angeles, CA — August 6, 2020 — Draper Goren Holm today announces two new portfolio companies: The incubation of Return.Network and a recent investment in Open Relay the company behind node infrastructure product, Rivet: both critical players in ushering in the mass adoption of decentralized finance.

Rivet

Draper Goren Holm today announced it’s investment in the blockchain node infrastructure startup, Rivet. Builders and operators of blockchain products understand that Ethereum nodes are expensive and hard to operate at scale, and that’s why Rivet has built a solution that makes connecting to the blockchain easy and inexpensive.

“True systematic change cannot occur without a tremendous reduction in cost and of the technical hurdles that exist with blockchain technology,” says Alon Goren, Founding Partner of Draper Goren Holm. “Rivet’s incredible team has made building and scaling DeFi products and decentralized applications significantly cheaper and easier.”

“Rivet has applied age-old approaches and best practices of database design to the management of blockchain infrastructure,” said Austin Roberts, CEO. “While this may seem counterintuitive, given the newness of blockchain technology, it is precisely that intuition which enables us to provide exceptional service and availability at industry leading prices.”

To learn more about Rivet, go to rivet.cloud

Return.Network

Furthermore, the blockchain venture studio today announced Return, a decentralized finance app that allows users to earn 6.25% on their deposits.

Incubated by Draper Goren Holm’s founding partners, Alon Goren and Josef Holm, Return offers a new way for users to access the returns that decentralized financial products offer, without having to interact with cryptocurrencies.

“The revolutionary DeFi products being built on the blockchain will have little to no impact on society if having to be technologically savvy continues to be a prerequisite to adopt them,” said Josef Holm, Founding Partner of Draper Goren Holm. “Return will give consumers the best parts of DeFi without any of the technological hurdles.”

To earn Return users 6.25%, Draper Goren Holm is building this product on top of its portfolio company DMMDAO’s Defi Money Market Protocol.

To sign up for the private beta, go to return.network

About Draper Goren Holm

Draper Goren Holm, a partnership between Tim Draper, Alon Goren, and Josef Holm, is a venture studio focused on accelerating and incubating early-stage blockchain and fintech startups, while simultaneously producing leading blockchain and cryptocurrency events, LA Blockchain Summit and Security Token Summit. Portfolio companies include DeFi Money Market, Totle, Ownera, Innovesta, LunarCrush, Degens, Giftz, Vertalo, Coinsquad, CasperLabs, Element Zero, DeFi Money Market and more.

More information can be found at drapergorenholm.com.

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Source: Company press release.