10 C
Amsterdam
28 March 2024
PumpMoonshot
Image default
News

Don-Key Collects $2.2M in Private Funding for Social Yield Farming Platform


Don-key.finance, a DeFi yield farming aggregator, recently announced the completion of its first private funding, collecting $2.2 million in total from renowned venture capital firms. The financing round saw participation by investors such as Genesis Block, MarketAcross, Black Edge Capital, AU21, Spark Digital, Solidity Ventures, MoonWhale, and Morningstar Ventures.

The funds will be used to develop an eToro-like social platform that will bring liquidity providers and yield farmers together. By doing so, Don-Key connects investors around the world to make the experience of trading and investing in DeFi less opaque and more inclusive.

This ‘one-stop shop’ links investors, DeFi enthusiasts and farmers to interact with each other, following and sharing ideas after joining Don-Key. Their mission is to make DeFi investments more accessible for anyone, anywhere, while reducing dependence on traditional yield framing platforms.

Don-key offers easy access to top-notch Defi trading strategies by following experienced farmers and traders and copy their strategy in exchange for a small management fee. This concept is particularly beneficial for less experienced, or low-capital investors looking to enter the DeFi world or DeFi Farmers looking to up their game.

Don-key platform provides a mix of features including “Copy Farming”, an auto-invest tool to subscribe to farming opportunities by following top farmers and browsing the platform’s leaderboard. The list of services also includes investment pooling, and drag-and-drop strategy building.

They will have access to “yield farming” opportunities by pooling their crypto holdings for liquidity. The service essentially boils down to users staking their parked assets into a DeFi market and earning interest on those deposits.

On top of that, the platform deploys its native token to power the Don-key Finance ecosystem. Dubbed ‘DON Token,’ it will be airdropped to all farmers based on monthly trading results, ROI, risk level, asset exposure and more.

Don-Key to integrate token with BSC

DON tokens represent the farmer’s yield based on his own strategies, in addition to a proportionate monthly dividend from Don-key’s total monthly yield.

Don-key’s upcoming integration with the Binance Smart Chain will be also a massive milestone that allows token holders to redeem or cash out at any time.

Commenting on the news, Gil Shpirman, Co-Founder and CEO of Don-Key said: “We are very excited to see our vision come to life, I think that what is so special about our project is that everyone that is working on it, is also going to be a future user once we launch. That’s not something you see on every project, and I think it says a lot of what we are trying to build here.”

Said Leslie T, Cofounder and Partner of GBV also added: “We are excited to be partnering with Don-Key to bring social trading to DeFi. The growth of the DeFI industry has been breathtaking, but the experience is still difficult for many new users. Don-Key addresses this with customizable strategies and ‘copy farming’ make the decision making simpler for the common user. We look forward to developing the product and growing the feature set with them.”

More than $63 billion has been locked into DeFi protocols at a time of heightened uncertainty in the global economy. While lending, payments and derivatives platforms command a large market share, interest-bearing accounts remain one of the biggest adoption drivers for DeFi products.

News Source

Related posts

ADA Price Prediction – Cardano ADA Remains Above the $0.104 Level But a Rise Above $0.110 Level is Essential – October 21st, 2020

PumpMoonshot

Bodybuilder Who Lost Millions with XRP Trade Starts Settlement Talks with Exchanges

PumpMoonshot

Combining Convenience and Security, TenX Is Expanding Bitcoin Usability – Bitcoin Magazine

PumpMoonshot
Verified by MonsterInsights