December 14, 2024
Yei Finance, a platform focused on modular cross-chain lending, has successfully raised $2 million in seed funding. The company aims to enhance its ecosystem with flexible and secure cross-chain liquidity solutions. The funding round saw participation from prominent investors, including Manifold Trading, DWF Ventures, Kronos Research, and others, signaling confidence in Yei Finance’s potential. This marks a key step for the company as it works toward its goal of building an efficient and scalable cross-chain lending platform.
The company, which currently boasts $130 million in Total Value Locked (TVL), is positioning itself to become a leader in the decentralized finance (DeFi) space. Yei Finance is focused on creating modular lending markets, which will provide users with secure and customizable lending pools. These developments are expected to enhance the user experience, making the platform more adaptable to different lending strategies and cross-chain liquidity needs.
Looking ahead, Yei Finance plans to revamp its platform and introduce a new omnichain money market that will integrate liquidity across multiple blockchains. This approach aims to simplify borrowing and lending through a hub-and-spoke architecture, bringing greater efficiency to the DeFi ecosystem. The company’s next steps include launching its upgraded platform, expanding its modular lending offerings, and strengthening its cross-chain liquidity solutions.
About Yei Finance
Yei Finance is a decentralized finance platform offering modular cross-chain lending markets. Focused on flexibility and efficiency, it unifies liquidity across blockchains to enable streamlined borrowing and lending. The platform is expanding with tailored lending pools and omnichain solutions.
Website: https://www.yei.finance/
X: @YeiFinance
About Investor
Manifold Trading
Manifold Trading is an investment firm with a focus on the blockchain and cryptocurrency sectors. The firm provides venture capital support for projects, helping to accelerate their growth in the rapidly evolving digital asset space.
Location: New York, NY
Website: https://www.manifoldtrading.com/
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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