DeFi.app completes a $4 million financing, with a total valuation of $100 million, and launches public testing

PANews reported on February 14 that Decentralized Finance trading platform Decentralized Finance.app raised another $4 million in its latest seed extension round, maintaining a $100 million Token valuation. The financing was jointly participated by venture capital firms and Cobie’s Echo platform, with institutions such as Mechanism Capital, DCF Capital Partners, Balaji Srinivasan, Pentoshi investing $2 million, and Echo’s Comfy Capital and George Beall team contributing $2 million. This brings the total financing amount of Decentralized Finance.app to $6 million. In addition, Decentralized Finance.app has announced the official opening of public beta testing, providing “zero Gas fee” cross-chain Token exchange, decentralized asset management, and fiat-to-crypto functions, and plans to launch perpetual contract trading, yield farming, and lending services in the future. The platform’s previous closed testing has attracted 100,000 waitlisted users and completed $60 million in trading volume, with the goal of attracting hundreds of thousands of users in the coming months and driving daily trading volume into nine figures. Decentralized Finance.app plans to conduct a public Token sale this month, selling 3% of the total supply of HOMEToken to non-US KYC compliant users, also at a valuation of $100 million. In addition, Decentralized Finance.app has launched the ‘Degen Arena’ esports-style trading competition, where users can earn points through trading and compete for rewards. It is not yet clear whether this will be converted into a Token airdrop. The official expectation is that HOMEToken will go live in early Q2, with the ‘vast majority’ of Tokens allocated to the community.