Odaily Planet Daily reported that Cicada Partners, an on-chain credit risk management company, completed a US$9.7 million Pre-Seed round of financing. Choppa Capital led the investment, and Bitscale, Bodhi Ventures and Shiliang Tang participated. The funds raised will be used to finance multiple new non-profit companies. The managed lending pool provides seed funding and conducts research and development on new blockchain lending use cases.