FLURRY Finance raises $3 million to scale its DeFi yield aggregation protocol
Hong Kong, Hong Kong, 20th July, 2021,
Flurry Finance, the team behind FLURRY, a DeFi protocol offering yield aggregation, recently closed its latest investment round worth $3 million. Investors include AU21 Capital, GenBlock Capital, Shima Capital, CoinUnited.io, One Block, Soul Capital, and Dutch Crypto Investors. The fresh funds will be used in preparation for its product launch in Q3 2021, as well as its IDO which will take place in the same period.
FLURRY aims to enhance the usability of DeFi products, providing a flexible and user-oriented model to the digital community. As an innovative product that shapes the future of yield farming, FLURRY provides everyone with options to access DeFi opportunities and grow their crypto assets.
“With its founding team of seasoned operators who have extensive experience in this space, FLURRY Finance is pioneering the global trend towards yield aggregation. We are proud to back FLURRY Finance and eager to see the next step in their journey. We look forward to supporting the team in its next phase of development as it continues delivering on growth and innovation,” said a company representative of AU21 Capital.
“We are humbled to work with world-class partners such as AU21 Capital, GenBlock Capital, Shima Capital, and others. What this shows is not only a great commitment to our company but also to the industry. Our focus now is to scale our protocol while continuing to innovate and pioneer in the DeFi space. We are excited to offer users a more efficient and more convenient solution to yield farming,” said Mike Ting, CEO of FLURRY Finance.
At FLURRY, the team believes that the evolving DeFi space and technology will soon outpace the traditional interest rate model with better and more efficient solutions. Hence, the team aims to introduce the next-generation model of yield farming that is more efficient and convenient for everyone. FLURRY Finance introduced rhoToken, a cross-chain token that will use its underlying stablecoins to grant automated yield farming with lower fees and diversified risks.
The funds raised will be utilized to prepare for the business’s product launch in Q3 2021, as well as its IDO, which will take place during the same time period. The funds will also be used to enable cross-chain interoperability, which is expected for the fourth quarter of this year.
For more information about FLURRY Finance and their upcoming IDO and other developments, please visit their official website.
FLURRY is a DeFi protocol offering yield aggregation with rhoToken, which is pegged 1:1 to its underlying stablecoin. It automatically farms for yields without locking up funds or interest earned by diversifying DeFi product risk, resulting in lower gas fees.
We automate the tedious task of locking/unlocking and switching in and out of DeFi products on different chains to generate yield. Current yield aggregators are limited to Ethereum based products or work on a single chain, whereas FLURRY aims to work cross-chain to look for the best yield after cost on different chains.
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- Alison Cheng