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Firelight raises $8M in seed funding led by Gumi Cryptos Capital to build decentralized cover protocol protecting DeFi capital against smart contract failures and exploits.
PRIVATESep 01, 2026•4 days ago
Amount Raised
$8 Million
Round Type
Seed
BlockchainCryptocurrency
Investors
Tribe CapitalJoint EffectsMetalayerMaven 11Gumi Cryptos Capital
Description
Firelight, a decentralized cover protocol, has raised $8 million in seed funding led by Gumi Cryptos Capital with participation from Maven 11, Metalayer, Joint Effects, and Tribe Capital. The funding will support development of infrastructure to protect capital against smart contract failures, protocol exploits, and economic risks across DeFi. Incubated by Sentora and backed by Flare Network, Firelight plans to launch its protocol and first cover integrations in September. The protocol aims to address DeFi's protection gap by using assets with low correlation to DeFi markets as backing for its cover products.
Company Information
Company
Firelight
About
Firelight is a decentralized cover protocol designed to protect capital against smart contract failures, protocol exploits, and other economic risks across DeFi. The protocol uses assets with low correlation to DeFi markets to back its cover products. Incubated by institutional DeFi provider Sentora and backed by Flare Network, Firelight aims to close the protection gap in the DeFi ecosystem where approximately $80 billion is locked but largely unprotected.
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