June 10, 2024
Zyfi, a gas abstraction layer, has secured $2 million in a private funding round. The funds will be used to bootstrap native account abstraction on zkSync, thereby enhancing the broader DeFi Landscape
Despite the progress in blockchain and cryptocurrency adoption in recent years, certain tools, such as self-custodial wallets like MetaMask and the execution of on-chain transactions, still pose challenges for some users.
One of the significant hurdles in DeFi activities is the gas fee, which users must pay to miners or validators for transaction confirmation. Zyfi intends to use the investment capital to address this issue by streamlining gas options across various protocols and solutions.
About Zyfi
Zyfi is a product developed by Ondefy Labs that provides a set of tools designed to enhance the on-chain experience for users. It leverages zkSync’s native account abstraction (AA) to deliver this seamless experience. This innovative approach allows users to interact with the blockchain in a more efficient and user-friendly manner. The goal of Zyfi is to make blockchain technology more accessible and practical for everyday use. Please note that while I strive to provide the most accurate and up-to-date information, it’s always a good idea to do your own research or consult with a professional when making decisions related to blockchain technology.
Website: https://www.zyfi.org/
X Followers today: 32,019
About Investor
Investor:
Firms like Everstake Capital, Tenzor Capital, Apvc.capital, Criterionvc, NxGen, Majinx Capital, v3ntures, and Momentum8, to name a few, participated in the private fundraiser.
Location: United States
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.
Comments