DeversiFi, an Ethereum-based decentralized second-tier financial platform, Received $ 5M in strategic investments from some of the largest cryptocurrency venture capital firms, sending a strong signal that demand for DeFi opportunities remains strong.
DeversiFi intends to make DeFi trading more accessible so that users can invest, exchange and send tokens without having to pay gas fees. The platform announced its DVF governance token on March 25 with a firm offer of 100 million. The decentralized exchange was restarted in June 2020 as DeversiFi 2.0 with the scaling technology Starkware kSTARK Layer 2.
Will Harborne, co-founder of DeversiFi, described the importance of scaling the second tier for Ethereum:
The Layer 2 scale is essential to the Ethereum roadmap. We’re creating a hub to invest, exchange, send, and lend tokens without the friction and cost of Layer 1. The more users join, the more important it becomes to integrate with centralized exchanges to remove barriers to access to L2 DeFi. “
“DeversiFi brings a powerful DeFi business experience to life without paying high gas fees,” said Santiago Santos, partner at ParaFi Capital. “Ethereum and DeFi are switching from dial-up to broadband with L2 this year, and DeversiFi is at the forefront of that transition that will ultimately deliver on the promise of why DeFi will consume CeFi: faster, better and cheaper.”
DeFi continues to attract large investment streams and users from around the world. The industry peaked earlier this month when the Total Locked Value (TVL) for DeFi protocols topped $ 163 billionaccording to industry data. At press time, DeFi’s TVL was $ 143.5 billion.
The DeFi boom has continued even though the major cryptocurrency markets sold out over the weekend.. At the time of writing, most major DeFi tokens had reported gains in the past 24 hours.