NiiFi, a new decentralized exchange (DEX) and lending protocol that targets common use cases, announced today that it has successfully completed a $ 3 million startup round, according to a press release.
The DEX would use funds used to build as the first application on Nahmii 2.0, the first Ethereum Layer 2 scaling solution that enabled fiat currency swaps, instant transaction finality, and KYC / AML compliance features required for wide adoption.
The round was led by industry giants such as DARMA Capital, which included A195 Capital, AU21 Capital, Blocksync Ventures, Lotus Capital, Moonwhale Ventures, Protocol Ventures, Three M Capital and Matterblock, among others.
In addition, individual investors will have the opportunity to participate in the launch of NiiFi from May 20, 2021 Polka starter.
What is NiiFi?
NiiFi is a decentralized exchange that offers swap and credit features comparable to Uniswap.
Unlike existing DEXs based on Ethereum or other base layer protocols, the protocol leverages the unique capabilities of Nahmii 2.0 to provide the first decentralized exchange that enables real-time transactions required for high frequency trading and other high volume functions.
NiiFi’s knowledgeable development team has already developed products that are used by millions of users in various industries and has been developing blockchain scaling solutions since 2013.
“NiiFi is the avant-garde use case for Nahmii 2.0. With the breakthrough technology from Nahmii, NiiFi can now build the first decentralized exchange aimed at wide mainstream adoption, ”said Jacobo Toll-Messia, CEO of Nahmii AS.
Toll-Messia added, “We are grateful for the continued commitment of DARMA Capital and all of our investors as we work to deliver on the fundamental promise of blockchain-based, decentralized technologies.”
Layer 2 functions
The Nahmii solution has been available on the mainnet since 2018 and solves several key issues that are currently limiting the potential of decentralized applications by providing developers with a platform that enables instant finality, low latency and high transaction throughput for economic profitability.
As a result of solving these problems, Nahmii will ultimately support an entire ecosystem of decentralized solutions aimed at mass adoption.
For this reason, Nahmii will publish its White Paper 2.0 in the coming weeks with the start of production in summer, in which the technical improvements will be described in detail.
Andrew Keys, Managing Partner of DARMA Capital, said the team is excited to invest in NiiFi and launch the DeFi ecosystem on Nahmii 2.0. “We believe that Nahmii 2.0’s unique ability to provide instant finality will fuel myriad commercial use cases, and we are excited to begin this journey with you,” concluded Keys.
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