Founded in 2017, Dharma Labs aimed to make decentralized finance accessible to mainstream users. Its primary product was the Dharma mobile app, a smart contract wallet that simplified the process of depositing cryptocurrencies into leading DeFi lending protocols like Compound and Aave to earn variable interest rates. The platform was known for its user-friendly interface and for subsidizing transaction (gas) fees, which removed a major barrier to entry for new DeFi users. In February 2022, Dharma Labs was acquired by the NFT marketplace OpenSea, and its consumer-facing wallet and services were officially sunsetted in April 2022 as the team integrated with OpenSea.

Founded in

United States