Affine Protocol has raised $5.1 million in a fundraising round to continue its development in DeFi.
The funding round, in which Affine Protocol participated, was led by Jump Crypto and Hack VC. Circle Ventures and Coinbase Ventures also took part in the round.
Affine Protocol Successfully Raised Funds
Decentralized protocol Affine has raised $5.1 million in a seed funding round led by Jump Crypto and Hack VC, including contributions from Circle Ventures and Coinbase Ventures.
Based on Ethereum and Polygon, Affine provides users with access to diversified throughput on decentralized finance (DeFi) platforms. Affine’s goal is to provide solutions to the challenges associated with impairment loss in providing liquidity.
Polygon co-founder JD Kanani said the following about Affine’s role in the industry:
“The market is moving towards a multi-chain world that only makes it harder to engage in DeFi. Affine is ahead of its time in helping end users solve this complexity in a sustainable way.”
The wide variety of DeFi platforms and tokens can make it a challenging world for new and uninformed investors. Incidents such as hacking, exploiting vulnerabilities and rug pulls in DeFi in the past year create distrust in investors. It is precisely here that Affine can assume this role and its tools that can simplify the process may therefore be in demand in the industry.
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