Frontera Labs raises $3M for DeFi protocol Strata

Frontera Labs, the developer of the decentralized finance (DeFi) protocol Strata, has raised $3 million in a seed funding round led by Maven 11 Capital, CoinDesk reported. Lightspeed Faction also participated in the round. Strata, which was initially built on Ethena's USDe, is a protocol that uses the financial technique of tranching to separate and tokenize the yield and risk generated from a single asset.