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Contango Protocol is a DeFi protocol that users may establish leveraged positions that resemble perpetual futures contracts but have lower funding costs. It works by automating "looping" strategies, which include lending and borrowing on the money and spot markets in a looping way.
Contango Protocol project successfully raised $4M via Seed Round from ParaFi, Advanced Blockchain AG, dlab, Coinbase Ventures, Spartan Group, and others.