DeFi Yield Protocol Affine Raised $7M Led by Coinbase Ventures

Dhruv Lakshya 14-08-2023 02:33:34

Affine, a DeFi protocol that allows you to invest in multiple assets, raised capital of $7 million in a funding round led by Coinbase Ventures、Circle Ventures、Jump Crypto、Hack VC and more.

Founded in part by former Google, Goldman Sachs, and Meta employees, Affine aims to be the trusted protocol for users to earn yield that is fundamentally different from opacity.

"The market is moving to a multi-chain world which only makes participating in DeFi harder. Affine is at the head of the curve in helping end to tackle this complexity in a sustainable way." the Co-Founder of Polygon Jaynti (JD) Kanani comments on Affine protocol.

Affine has created several diversified baskets, that allow users to participate in this crypto-economy, powered by DeFi, earning yield that is beyond what they can earn in the traditional financial system in a more transparent way. This includes contributing to DeFi lending protocols like Compound and Aave in addition to simple holdings of assets like Bitcoin and Ethereum.

Other participants in this round also include FJ Labs, Shima Capital, Global Founders Capital, Propel Venture Partners, Dexterity Capital, Spartan Capital, Eniac Ventures, Asymmetric Partners, and AlphaLab Capital.

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Dhruv Lakshya

Dhruv Lakshya is an investor and writer who is passionate about digital assets and the future of finance. He has a background in engineering and business, and he has been investing in crypto since 2017. He has written for various platforms, sharing his insights and analysis on the crypto market, trends, and opportunities. He is also an active member of the Indian crypto community, participating in events, meetups, and online forums. He believes that crypto can empower people and create positive social impact. He likes to play chess, read books, and meditate.