Multichain trading platform Derived Finance raised more than $3.3 million in a funding round, in which over 30 venture capital funds participated, including big names like Genblock Capital, AU21, Dweb3, Nabais Capital, and Poolz. The round was led by GSR. The benefits of ‘derived’ tokens The participating venture capital firms expressed enthusiasm about the company’s […]
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Tortola, BVI – ADD.xyz, a UK-based Private DeFi Aggregator that aims to bring all DeFi products under a single roof announces the launch of V3 of its decentralized lending aggregation platform, +Earn. Earlier named ‘Lend and Earn’, +Earn enables users to deposit their cryptocurrencies and earn the best available interest rates across multiple DeFi platforms like Aave, Compound Finance, Yearn Finance, Fulcrum, and MakerDAO. Currently, users can generate passive income by earning interest rates on their stablecoins like USDC, USDT, BUSD, and DAI and altcoins like MKR and CRV. According to the company’s announcement, more tokens are expected to be added to the platform in the future based on the customers’ demand.
Polkadot-Based Protocol Knit Finance Raises $1M
KnitFinance, a Polkadot-based cross-chain wrapped protocol, has successfully raised $1 million from its latest fundraising round as it approaches its SHO on Dao Maker on May 17.
The lead investors of this round included Dao Maker, AU21 Capital, LD Capital, Orion, x21, Nabais Capital, Insight Capital, Momentum 6, Bitcoin.com, pSquare Capital and Chronos Ventures. The fundraising attracted immense participation, leading to more than 50 x commitments.
Beta version of the product has been live since December supporting wrapped assets on five chains already.
KnitFinance bridges DeFi on multiple chains by bringing multiple assets to every compatible blockchain network, Knit allows a real-world insured wrapped token feature to ensure any digital and lockable asset can be stacked to get yield, lent, borrowed, margin traded, and farmed enabling billions of dollars of idle assets to be productive and make the overall DeFi more productive. It