DeversiFi, a Layer 2 trading platform built on StarkWare’s scalable technology, announced today that it has closed a $ 5M strategic financing round, sponsored by ParaFi, with the participation of Defiance Capital, Lightspeed Venture Partners, Blockchain.com Ventures, Delphi Ventures, and others.
The funds raised from the round will flow into the introduction of Layer 2 AMM pools from DeversiFi, Liquidity Mining and a number of other tools that are intended to make Ethereum-based DeFi more convenient.
DeversiFi launched its specially developed governance token DVF in March of this year. The entire token distribution is heavily geared towards building a strong community that will reward the users of their platform.
ETH has hit an all-time high lately, but the problem of excessive gas charges remains. with the need to make more Layer 2 solutions available and accessible.
“Layer 2 scaling is critical to Ethereum’s roadmap. We’re creating a hub to invest, swap, send, and lend tokens without the friction and cost of Layer-1. With more users on board, we see integration with centralized exchanges as an important part of removing the barriers to accessing L2 DeFi, ”said Will Harborne, co-founder of DeversiFi.
Fenbushi Capital, OKEx, StarkWare, Longhash Ventures and well-known DeFi founders such as Kain Warwick from Synthetix, Stani Kulechov from Aave and Mona El Isa from Enzyme took part in the financing round of DeversiFi.
Attending and joining DeFi from one of the world’s leading VC companies, Lightspeed Venture Partners, known for its investments in consumer technology companies like Snapchat and Nest, shows that interest in decentralized space is becoming more mainstream.
“DeversiFi has a strong team, an early mover advantage with a scaling solution, and a unique goal of bringing DeFi to a wider audience. We look forward to working with them and continuing to invest in DeFi, ”said Amy Wu, partner at Lightspeed Venture Partners.