December 4, 2024
Defi App has completed a $2 million seed funding round, securing a $100 million fully diluted valuation for its native token, HOME. Mechanism Capital led the investment, joined by Selini Capital, North Rock Digital, and around 50 angel investors. The round, initiated earlier this fall, wrapped up last week. Founded in 2023, the platform seeks to reshape decentralized finance (DeFi) with user-focused features.
Defi App raised seed funding through a simple agreement for future tokens (SAFT), offering 2% of the total HOME token supply. The company has allocated 20% of the token supply for public distribution to foster community participation. Dates for the public sale are yet to be announced.
Defi App simplifies DeFi trading with features such as instant cross-chain swaps, decentralized derivatives, and yield farming, without gas fees or reliance on bridges. The platform incorporates advanced full-chain abstraction, passkey, and biometric authentication for security. Its beta version and an esports-themed competition are set to launch this month, with the full mainnet and HOME token release scheduled for early 2025.
About Defi App
Defi App is a decentralized finance platform launched in 2023, focusing on accessibility and usability for crypto traders of all levels. The platform integrates features such as cross-chain transactions, decentralized derivatives, and gas-free trading. By emphasizing self-custody, it seeks to offer a secure and transparent alternative to traditional financial systems.
Website: https://defi.app/
X: @defidotapp
About Investor Mechanism Capital
Mechanism Capital is an investment firm specializing in blockchain and cryptocurrency ventures. It supports early-stage projects across DeFi, Web3, and infrastructure sectors, contributing to the growth of technologies.
Location: Texas, USA Website:https://www.mechanism.capital/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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