PANews reported on February 14 that according to The Block, DeFi trading platform DeFi.app raised another $4 million in the latest seed extension round of financing, maintaining a token valuation of $100 million. The financing was jointly participated by venture capital institutions and Cobie's Echo platform, of which Mechanism Capital, DCF Capital Partners, Balaji Srinivasan, Pentoshi and other institutions invested $2 million, and Echo's Comfy Capital and George Beall team contributed $2 million. So far, DeFi.app's total financing amount has reached $6 million.
In addition, DeFi.app announced the official opening of public beta, providing "gas-free" cross-chain token exchange, decentralized asset management and fiat currency purchase functions, and plans to launch perpetual contract trading, yield farms and lending services in the future. The platform's previous closed beta has attracted 100,000 standby users and completed $60 million in trading volume. The goal is to attract hundreds of thousands of users in the next few months and drive daily trading volume to nine figures.
DeFi.app plans to conduct a public token sale this month, selling 3% of the total supply of HOME tokens to non-US KYC-compliant users, also at a valuation of $100 million. In addition, DeFi.app has also launched the "Degen Arena" e-sports style trading competition, where users can earn points through trading and compete for rewards. Whether this will be converted into token airdrops is not yet clear. Officials expect HOME tokens to be launched in early Q2, and "most" of the tokens will be distributed to the community.
